Lott will resign by end of year. Was not facing re-election next year. Position will be filled by Republican Mississippi governor Haley Barbour.
More at ABC News' "Lott's Departure Precedes Ethics Restrictions "
Excerpts:
A source close to Lott said the next phase of Lott's life "involves a whole lot of money."
...
Lott's resignation before the end of the year will allow the senator to leave Congress before new ethics rules, enacted into law this fall, would force him to sit out for two years.
As the ranking Republican on the Senate Rules Committee, Lott had a hand in vetting the new ethics rules,...
A special election to fill the remainder of Lott's term will be held in 2008 as well. Republican Gov. Haley Barbour will appoint a Republican in the meantime.
tags: trent lott senate ethics rules congress gop republicans
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