Sen. Trent Lott today confirmed he will step down at the end of the year, various news outlets are reporting. Read the transcript of his comments on washingtonpost.com here.
Lott, the first member of the Senate's Republican leadership to step down, said he isn't sure what he'll do next, but didn't rule out the chancellorship at Ole Miss when asked. In response to a question about whether the timing of his resignation was due to a new law that goes into effect in January and would impose a longer waiting period before he could lobby, Lott answered it "didn't have a big role in that decision. You know, there are limits on that already. And, as I've talked to my former colleagues, they say that a lot of what you do anyway is involved with consulting rather than direct lobbying."
Lott also said he has "tried to stay away" from negotiations with potential employers.