Before running for Congress, Chaffetz worked for politician and diplomat Jon Huntsman Jr.in 2004 as campaign manager in Huntsman's successful race for Utah governor, then as chief of staff after Huntsman took office.
"I learned a long time ago, I'm going to keep my eyes wide open", Chaffetz told CBS This Morning.
The Utah Republican said in a Facebook post that there were "no ulterior motives" behind the move, and he was confident he would still be re-elected by wide margins, had he decided otherwise.
For now, Chaffetz said, "I have made a personal decision to return to the private sector".
Chaffetz, a conservative Republican who was first elected to the House of Representatives in 2008, gained prominence as head of the committee that investigated Democratic presidential candidate Hillary Clinton's use of a private email server while she was USA secretary of state.
Hewitt proud of "both boys" in Davis Cup
American John Isner defeated Sam Groth 7-6 (7/5) 6-3 in the dead rubber singles on Sunday as Australia won the tie 3-2. Australia made the semi-finals in 2006 and 2015 and won our last title in 2003.
"Serving is an honor and a privilege that I have never taken for granted", Chaffetz said in a Facebook post.
Thank you! Thank you for allowing me to serve as your Representative in the United States House of Representatives. When asked by reporters if he is considering a run for the Senate instead, Chaffetz indicated he was not leaving the House to go that route. "I'm not opening or closing the door on anything", he said, adding that he may potentially seek another bid for office.
One of the most well-known Republican members of the House of Representatives won't be running for re-election. "It is an honor to serve with Jason on the Oversight Committee, and I wish him and his family all the best in the next chapter of their lives".
Chaffetz reportedly made the announcement via text message to a Salt Lake City radio show host a day after making an appearance, but has since confirmed this update to several outlets. A group of neighbors in Capitol Hill paid for an ad against Chaffetz in a Utah newspaper that ran last weekend.
Gov. Spencer Cox told the WSJ that officials are preparing for a special election in Chaffetz's 3rd Congressional District. The longer you spend in Washington, the worse off you are; for every year there, it becomes that much tougher to get away from the DC stench in the minds (and noses) of Republican voters.