It was reported today the Rep. Bill Thomas (R-CA), Chair of the House Ways and Means Committee, will retire as opposed to seeking reelection in November. This makes him the 24th member of the House who is retiring or seeking higher office instead of running for reelection. His resignation is not a big surprise because under House Republicans' self-imposed term limits for committee chairmen, Thomas can no longer serve as Ways and Means Chair after this year.Thomas, who has held the powerful position since 2001, was a key figure in helping to pass the 2001 and 2003 tax cuts. Washington Post: House Ways and Means Chair Thomas Retiring