'One country. One destiny': House Speaker Nancy Pelosi steps down from Democratic leadership

United States House of Representatives Speaker Nancy Pelosi (D-California) announced on Thursday that she "will not seek reelection to Democratic leadership" in the 118th Congress.

Democrats lost their five-seat House majority in last week's midterm elections, handing Republicans a slim but very real edge in the lower congressional chamber.

Representative Kevin McCarthy (R-California), the current minority leader, is widely expected to be chosen as the next Speaker. On Wednesday, 188 members of the House GOP caucus nominated him for the job, which would begin when the new Congress is sworn in on January 3rd, 2022.

READ MORE: 'It's atrocious': Glenn Youngkin apologizes to Nancy Pelosi for joking about her husband's attack

In her address, Pelosi touted her work with "three presidents" – George W. Bush, Barack Obama, and Joe Biden – in a notable snub of former President Donald Trump.

Her message was clear.

"For me, the hour has come for a new generation to lead the Democratic caucus that I so deeply respect," Pelosi said. "And I am grateful that so many are ready and willing to shoulder this awesome responsibility."

Watch below or at this link.

READ MORE: The Republican 'red wave' evaporates as Democrats shatter midterm expectations and precedents

Update Nov. 17, 2022 | 1 PM EST:

Rep. Steny Hoyer (D-MD), the second-ranking Democrat in the House of Representatives, followed Pelosi's lead on Thursday, announcing he will also step aside from House Democratic leadership, and "continue [his] service in a different role."

State Newsroom senior reporter Jennifer Shutt shared Hoyer's message on Twitter.

“ … I have decided not to seek elected leadership in the 118th Congress,” Hoyer said in a press release. “I do intend to continue my service in Congress and return to the Appropriations Committee as a member to complete work in which I have been involved for many years."

Shutt reports Hoyer is throwing his support behind Rep. Hakeem Jeffries (D-NY) for Democratic leader.