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Sen. Harry Reid Won't Seek Re-Election

"My life’s work has been to make Nevada and our nation better," he said.

Last updated on March 27, 2015, at 12:16 p.m. ET

Posted on March 27, 2015, at 8:08 a.m. ET

Senate Minority Leader Harry Reid said Friday he will retire from the U.S. Senate. Here's his official announcement.

View this video on YouTube

Reid, 75, says in the announcement that an injury he sustained earlier this year to his eye gave him time to think about his priorities moving forward.

"We've got to be more concerned about the country, the Senate, the state of Nevada, and us, and as a result of that, I'm not going to run for re-election," he says in the video.

Reid told the New York Times Friday morning that he wanted to go out on the top of his game, and that he was concerned his re-election race in Nevada would divert necessary money from other states.

"I think it is unfair for me to be soaking up all the money to be re-elected with what we are doing in Maryland, in Pennsylvania, in Missouri, in Florida," Reid said. "These are big, expensive states."

Reid's retirement means there will be an open Senate seat in the battleground state of Nevada in 2016, as well as a race to replace him as minority leader once his tenure expires.

The Washington Post reported Friday that Reid has endorsed New York Democratic Sen. Chuck Schumer to succeed him as minority leader.

"I think Schumer should be able to succeed me," Reid told the Post.

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