Source: Rangel won't step down from chairmanship

WASHINGTON (AP) -- The Associated Press has learned that Charles Rangel will not step down as chairman of the powerful House Ways & Means Committee.

People close to the New York Democrat told The AP on Tuesday that giving up the powerful chairmanship was never under consideration. They spoke on condition of anonymity because Rangel has refused to discuss the matter publicly.

Rangel has come under fire for unreported income on a beach vacation home in the Dominican Republic, as well as other issues. He has been meeting privately the past two days with House Democratic leaders.

The House ethics committee is investigating. Rangel is preparing to hire an accounting firm to sort out his problematic personal finances.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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