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House Majority Whip Steve Scalise (R-La.) downplayed rumors that he could potentially replace House Speaker Paul Ryan, who announced Wednesday he will leave Congress when his term ends.

Axios reported Wednesday that Ryan told confidants that he wouldn't be running again, and that Scalise could be a likely candidate to fill the role.

"We're doing the things that we were elected to do to get our economy back on track, working with President Trump ... we've gotten a lot done, but there's more we need to get done," he said on "Fox & Friends."

Republicans are vying to retain the majority in the House amid a potential wave election in November.

Scalise said the promises on which the GOP is running will be irrelevant if there is a continued presence of Rep. Nancy Pelosi in House leadership.

"Clearly that's what [Pelosi] is intending on doing and [Democrats] are raising a lot of money on their side. We need to make sure [Republicans] hold the House," he said.

Axios reported that Scalise and former House Majority Whip, Rep. Kevin McCarthy (R-Calif.), are the two most likely candidates to replace Ryan.

Ryan's office released the following statement Wednesday:

This morning Speaker Ryan shared with his colleagues that this will be his last year as a member of the House. He will serve out his full term, run through the tape, and then retire in January. After nearly twenty years in the House, the speaker is proud of all that has been accomplished and is ready to devote more of his time to being a husband and a father. While he did not seek the position, he told his colleagues that serving as speaker has been the professional honor of his life, and he thanked them for the trust they placed in him. He will discuss his decision at a press conference immediately following the member meeting.

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