The Associated Press reports that Senator Max Baucus of Montana plans to retire, according to top Democratic officials.

The story was released by the Associated Press and the Washington Post, citing officials who spoke on condition of anonymity, because they were not authorized to publicly disclose the information.

Baucus had made early indications and has been raising money for a run for his seventh term as U.S. Senator. Beaucus, who is 71, is the head of the powerful Senate Finance Committee. He was first elected in 1978.