MSNBC
NBC News has learned that Sen. Trent Lott, R-Miss., the minority whip is in the midst of informing close allies that he plans to resign his senate seat before the end of the year. It's possible a formal announcement of his plans could take place as early as today.
Lott's office initially denied that he he would step down, but subsequent requests for information about his plans went unanswered.
While the exactly reason Lott is stepping down before he finishes his term is unknown, the general speculation is that a quick departure immunizes Lott against tougher restrictions in a new lobbying law that takes effect at the end of the year. That law would require Senators to wait two-years before entering the lucrative world of lobbying Congress.
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