• BREAKING NEWS ABC shows live and on-demand -- Download the WATCH ABC app!

Nancy Pelosi to stay as Democratic House Leader

House Speaker Nancy Pelosi of Calif. speaks on Capitol Hill in Washington in March 2011. (Pablo Martinez Monsivais)

November 14, 2012 12:00:00 AM PST
House Democratic Leader Nancy Pelosi said Wednesday she will remain as minority leader.

The news comes despite Democrats failing to gain the 25 seats needed to win the House majority.

The 72-year-old California Democrat raised millions in an effort to regain control of the House for her party, but came up well short.

"My colleagues made it very clear: 'Don't even think of leaving,'" Pelosi said at a news conference. "I have made a decision to submit my name to my colleagues to once again serve as the House Democratic leader."

Pelosi's quarter-century of service in Congress representing a San Francisco area district in the House includes becoming the first woman in history to serve as speaker.

The Associated Press contributed to this report.