WATCH: Nancy Pelosi Resigns House Leadership Role In Nostalgic Floor Speech

House Speaker Nancy Pelosi (D-CA) announced on Thursday that she will not seek reelection to the leadership of the Democratic caucus, effectively resigning as House leader of the Democrats and making way for new leadership in the party.

Pelosi received multiple standing ovations during her floor speech in which she waxed nostalgic about first seeing the U.S. Capitol as a six-year-old when her father took his oath of office.

Pelosi also spoke about Jan. 6 and the attack on the U.S. Capitol that day, saying, “With these elections, the people stood in the breach and repelled the assault on democracy. They were soundly rejected, violence and insurrection, and in doing so, gave proof through the night that our flag was still there.”

Pelosi, who made history as the first female House speaker, praised the growing diversity in the Democratic caucus.

“In my 35 years in the House, I have seen this body grow more reflective of our great nation, our beautiful nation. When I came to the Congress in 1987, there were 12 Democratic women. Now there are over 90. And we want more. Yeah. The new members of our Democratic caucus will be about 75% women, people of color, and LGBTQ. And we have brought more voices to the decision-making table,” she said to loud applause.

While she will not return to a leadership position, Pelosi intends to continue serving in the House.

“There is no greater official honor for me than to stand on this floor and to speak for the people of San Francisco. This I will continue to do as a member of the House, speaking for the people of San Francisco, serving the great state of California, and defending our Constitution and with great confidence in our caucus, I will not seek reelection to Democratic leadership in the next Congress,” she said.

“For me, the hours come for a new generation to lead the Democratic caucus that I so deeply respect,” she added. “And I’m grateful that so many are ready and willing to shoulder this awesome responsibility.”

Pelosi also mentioned and thanked her husband, Paul, who is still recovering from a brutal, politically motivated attack in their home, and received a long standing ovation from her colleagues.

Watch the full clip above via MSNBC