Rep. Renzi quits panel during federal probe

WASHINGTON — U.S. Rep. Rick Renzi, R-Ariz., is temporarily stepping down from the House Intelligence Committee amid an ongoing federal investigation.

1. Other political news of note
   1. Military shrinks in size, scope under Obama

      In two major speeches, President Obama signaled a scaling back of drone attacks and a more targeted approach to fighting terrorism. Add recent budget cuts, and it's clear the military is in for a serious downsizing.

   2. Obama challenges Naval Academy graduates to help restore trust in institutions
   3. Republicans' 'Mad Lib' IRS controversy
   4. Obama reframes rules of engagement on terrorism
   5. IRS official Lerner placed on leave

In October, Justice Department officials confirmed that Renzi was the subject of an inquiry into a 2005 land swap that would benefit a friend and business associate.

Renzi has denied any wrongdoing.

Bringing out the truth
In a statement issued Thursday from Washington, Renzi said, "The FBI came to my family's business to obtain documents related to their investigation.

"I view these actions as the first step in bringing out the truth. Until this matter is resolved, I will take a leave of absence from the House Intelligence Committee. I intend to fully cooperate with this investigation."

Renzi, elected to his third term last November, did not elaborate on the federal probe.

The Arizona Republic reported that FBI agents raided an insurance agency owned by Renzi's wife in Sonoita, a town near Sierra Vista.

Renzi referred all questions to his Washington-based attorney, Laura Miller, who did not immediately return calls Thursday night.