WASHINGTON (UPDATED: 4/23/13, 10:40 A.M. ET)--Senate Finance Committee Chairman Max Baucus (D-Mont.) will not seek reelection in 2014, several news outlets are reporting.
Baucus, who has served in the U.S. Senate since 1978, plans to retire at that time, according to Democratic strategists.
The Senator also leads the Joint Committee on Taxation, and is one of many currently working on a tax code revamp.