Rep. Michael Grimm will resign from office following a guilty plea of cheating on his taxes.
In a statement released late Monday, the Staten Island congressman said he will resign from office effective January 5. He said he does not believe he can be 100 percent effective in the next Congress.
"The events which led to this day did not break my spirit, nor the will of the voters. However, I do not believe that I can continue to be 100% effective in the next Congress, and therefore, out of respect for the Office and the people I so proudly represent, it is time for me to start the next chapter of my life," reads the statement, in part.
Grimm pleaded guilty last week to hiding over $900,000 of income from a health restaurant he owned before taking office, as well as lying under oath.
At the time he maintained he would not resign, and there are no federal laws that would force him to. But Grimm apparently changed his tune after reportedly speaking with House Speaker John Boehner.
A spokesperson for Boehner wouldn't comment, but in the past, he has shown a zero tolerance policy when it comes to wrongdoing.
As for who would replace him, it's up to Gov. Andrew Cuomo to announce a special election.
Grimm, who was re-elected last month despite the charges against him, will pay restitution for his unpaid taxes.
He faces three years in prison, though his lawyers are likely push for no jail time.
His sentencing is scheduled for June.