House Speaker Nancy Pelosi has officially announced that she is stepping down from her Democratic leadership, saying that she will not be seeking re-election to Democratic leadership.

Pelosi is known to be the first female House Speaker and has helped shape many of the many significant laws of the early 21st century. She has been the Democratic leader in the chamber for two decades.

The House Speaker announced her decision just a day after media outlets projected that Republicans had seized back the control of the House following the result of midterm elections, which brought back the Democrats to the minority.

The chamber was full of Democratic lawmakers when she announced that she would not be running for the leadership once again. Meanwhile, the Republican side of the aisle was largely empty.

Minority Leader Kevin McCarthy did not attend the speech and reasoned that there were "meetings."

Republican House Minority Whip Steve Scalise was present, including Sen. Majority Leader Chuck Schumer.

House Majority Leader Steny Hoyer also announced that he will not be seeking another term in leadership while Majority Whip James Clyburn plans on staying in an "advisory" role and will not seek any of the top three spots in leadership.

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Nancy Pelosi Steps Down

Pelosi will be staying as the congresswoman of San Francisco but has no plans to endorse a successor or meddle with new leaders.

She noted that the next leaders "will have their vision" and they will have their own plan.

Pelosi also commented on the future direction of the House Democrats, saying that it will be up to the next generation of leaders and that she wants it "to be whatever they want it to be."

The House Speaker has kept a close hold on her most important decisions. It was known that she took two versions of her speech home with her for review Wednesday night.

Pelosi said that she has been ready to leave for a while as they are several things she wants to do. She then noted, "there's a life out there, right?"

Meanwhile, she also indicated that there might have been a different outcome had the Democrats been able to stay in the majority control of the House.

In her speech, Pelosi said that she has enjoyed working with three presidents who had achieved historic investments in clean energy with George Bush; transformative health care reform with Barack Obama; and infrastructure, health care, and climate action with U.S. President Joe Biden.

Pelosi did not mention former U.S. President Donald Trump.

U.S. Midterm Elections

Republican Mike Garcia was declared the winner in California's 27th congressional district on Wednesday, which has given the GOP 218 seats, which was the required number of seats to control the lower chamber of Congress.

McCarthy is projected to be the House Speaker when the new Congress meets early next year after his party nominated him to the position, as reported by Al Jazeera News.

Biden had congratulated McCarthy, noting that he is prepared to work with "House Republicans to deliver results for working families."

Republicans will have the authority to open congressional investigations into perceived wrongdoings, particularly the president's son Hunter Biden and his business affairs.

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Written by: Mary Webber

WATCH: Nancy Pelosi announces that she will step down as party leader in House of Representatives - from Guardian News