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Connecticut’s Linda McMahon plans to resign as SBA administrator

WASHINGTON DC — Linda McMahon, the former professional wrestling executive turned government official, is planning to leave her post as administrator of the Small Business Administration, a person familiar with her plans tells CNN.

President Trump has announced that he will hold a press conference with McMahon at his Florida resort, Mar-a-Lago, at 4 p.m. Friday.

One of the highest-ranking women in government — and one of the richest — McMahon had served largely under the radar in her more than two years at the agency. Unlike some of her Cabinet counterparts, she has not drawn the ire of Democrats in Congress or of ethics experts.

Politico first reported McMahon’s plans.

McMahon is a former chief executive officer of WWE, the Stamford-based wrestling empire. According to her SBA biography, she helped grow WWE from a 13-person regional operation to a publicly traded global enterprise with more than 800 employees in offices worldwide.

McMahon ran for U.S. Senate twice. She lot to Democrats Richard Blumenthal in 2010, and Chris Murphy in 2012. She spent an estimated $100 million on the two campaigns.

She remained active in Connecticut and national politics, becoming a prominent funder for conservative candidates and causes. She supported Donald Trump’s 2016 campaign, and was a Connecticut delegate to the 2016 Republican National Convention.

Connecticut Republican Party Chairman J.R. Romano issued a statement praising McMahon, saying “Working with the Trump White House to ease the regulatory burden on small shop operators and streamline compliance, the entire small business sector is better off after her two years in government.” He also said “While we are saddened to know she will be leaving the Trump Administration, her many friends will be thrilled to welcome her back home in Connecticut.”

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