WASHINGTON — Rep. Jeb Hensarling, R-Texas, chairman of the House Financial Services Committee, has announced that he will not run for majority leader to replace Rep. Eric Cantor, R-Va.

Cantor lost his district primary Tuesday night in a stunning upset to college professor David Brat, and said on Wednesday that he will step down as majority leader at the end of July. Hensarling was on the shortlist of lawmakers considering a play for position, but said in a statement Thursday that he will not seek the position during next Thursday's race.

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