WASHINGTON (AP) -- Republican House Speaker Paul Ryan will not run for re-election, according to people close to the Wisconsin lawmaker.

Ryan's plans have been the source of much speculation, amid Republican concerns over keeping their majority in the House of Representatives. Two people with knowledge of the Wisconsin lawmaker's thinking said Wednesday Ryan has decided against seeking another term. Both sought anonymity because they were not authorized to speak publicly.

They did not say why Ryan has decided not to run.

A spokesman for Ryan says he will serve out his term before retiring in January. Brendan Buck, counselor to the speaker, says the "the speaker is proud of all that has been accomplished. He said Ryan is ready to devote more of his time to being a husband and a father." Ryan and his wife have three children.

Buck says Ryan will discuss his decision at a news conference Wednesday. Buck says that while Ryan did not seek the position of speaker, "he told his colleagues that serving as speaker has been the professional honor of his life, and he thanked them for the trust they placed in him."

Ryan was first elected to Congress in 1998. He was elected House speaker in 2015 after former House Speaker John Boehner retired. He was former GOP presidential nominee Mitt Romney's running mate in 2012.

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