Trent Lott, R-Mississippi, is serving in his fourth term in the U.S. Senate.
WASHINGTON (CNN) - Sen. Trent Lott, R-Mississippi, intends to resign by the end of the year and join the private sector, sources tell CNN.
Lott is set to reveal his plans at a 12 p.m. ET news conference in Pascagoula and a 4 p.m. ET news conference in Jackson.
Lott decided to run for a fourth Senate term in 2006 for reasons including representing Mississippi and the Gulf Coast region in the wake of Hurricane Katrina.
He now feels he's laid the groundwork in Washington to make sure the region is looked after, according to a source familiar with his announcement.
A senior Republican source close to Lott said one reason for the decision
is the new lobbying restrictions on former lawmakers.
A new law kicks in on January 1, forbidding lawmakers from lobbying for two years after leaving office. Those who leave by the end of 2007 are covered by the previous law, which demands a wait of only one year.
Mississippi's GOP Gov. Haley Barbour will appoint a temporary replacement, who will serve through 2008. A special election will then be held to determine who will serve the remainder of Lott's term.
Reps. Chip Pickering and Roger Wicker are the leading candidates to succeed Lott. But the talk is that Pickering, who announced earlier this year he intends to leave Congress, would turn down the job.
Lott is the Republican Whip in the Senate and his resignation will bring to an end more than three decades in Congress.
Lott won a House seat in 1972 and was elected to the Senate in 1988. He's currently in his fourth term.
He is the first person to be elected whip in both the House and Senate.
– CNN's John King, Mark Preston, and Dana Bash
Good riddance Lott. I know you have well recovered your losses from Katrina plus some and I'm sure we will hear about it.
I hate to admit it but as a Dem I liked Lott as politician. He and Dashcle were the last two civil Senate leaders we had and they worked hard not to let partisan politics get in the way. He did have his issues but who hasn't, on both sides.
And as for Strom Thurman and the like, I love how they are for segregation unless it's between them and female slaves, then integration is just fine. Who knows how many descendants we have who were born as part of the ultimate hypocrisy.
testing....testing CNN Are you there? Then why do you keep deleting out my blogs, I met all the requirements and never said anything innappropiate in it. What gives, did I forget to put the period in ".com"!!!!
This is the real reason he is resigning. Please report the facts.
Oh, isn't he just the loyal soldier!! Just goes to show it's all about the money. He wants to be able to start lining his pockets as soon as possible. What a jerk! Another good republican. lol.
I had been thinking with all these Republicans jumping ship that it was because they were having trouble working with so many more democrats or maybe, just maybe, they were having a hard time supporting this administration and wanted out rather than feeling forced to continuously support GWB's policies.
Stupid me for giving them, even this guy, the benefit of the doubt. He ran for re-election just last year because of all the devastation from Katrina and is jumping ship so he won't have to wait 2 years after his term is up to rake in the big bucks as a lobbyist. Disgusting!
Good Riddance – you and Hastert and other big spenders have given the Republicans a bad name anyhow and put the party in the position it is today.
I find that many of you are referring to RACISTS as being of Southern origin.
From where I stand, much of America (northern, southern, western & eastern) are STILL holding onto racist ideals.
None of us is better then the next. Maybe Trent is finally getting to understand that and is ashamed of his actions (and those of his cronies). Maybe he has recognized it's time for the OLD GUARD to step down. Either way, we will have a fresh persepctive in the White House come '09.
I just hope this great nation of ours decides to come to our senses and quit the infighting. We USED to be the greatest nation...now, not so much. Together we can make anything happen. Let's focus on change for the better already.