WASHINGTON - Rep. Matthew Rinaldo, R-N.J., announced yesterday that he will not seek re-election this fall. The lawmaker is the top Republican on the House Energy and Commerce Committee's sub-committee with direct jurisdiction over municipal securities legislation.

Rep. Rinaldo, 61, who has served in the House for 20 years, said his decision was prompted, in part, by frustration that he is unlikely to ever become chairman of the telecommunications and finance panel because the Democrats are expected to retain control of Congress for the foreseeable future.

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