Rep. Charlie Rangel temporarily stepped down as chairman of the House Ways and Means Committee on Wednesday, a decision forced by a growing storm of ethics controversies threatening the veteran congressman. The 20-term New York Democrat told reporters he had submitted a letter to House Speaker Nancy Pelosi requesting a temporary leave of absence until a broad-reaching House ethics committee investigation concludes.
"In order to avoid my colleagues' having to defend me during their elections, I have this morning sent a letter to Speaker Pelosi asking her to grant me a leave of absence until such time as the ethics committee completes its work," Rangel said Wednesday morning.
Pelosi released a statement saying she had accepted Rangel's request, and praised the veteran congressman for "his decades of leadership on jobs, health care, and the most significant economic issues of the day."
Read Rangel's letter to Pelosi
The night before Rangel said he had no plans to step aside from his powerful post. The Ways and Means Committee is responsible for drafting the nation's tax policies.
Rangel is being investigated for, among other things, failing to pay taxes on a home in the Dominican Republic. The congressman also has admitted failing to report several hundred thousand dollars in assets on federal disclosure forms.
In addition, he is under scrutiny for the purported misuse of a rent-controlled apartment for political purposes, as well as for allegedly preserving tax benefits for an oil-drilling company in exchange for donations to a project he supported at the City College of New York.
Rangel was formally admonished Friday by the House ethics committee for violating rules on receiving gifts. Specifically, the committee found that Rangel violated House gift rules by accepting reimbursement payments for travel to conferences in the Caribbean in 2007 and 2008. (continues here on CNN)