Speaker of the House Nancy Pelosi, D-Calif., announced she will seek re-election in this year's midterms.

"While we have made progress much more needs to be done to improve people’s lives. This election is crucial: nothing less is at stake than our Democracy," Pelosi said in an announcement on Twitter Tuesday.

Pelosi, who will turn 82 in March, had previously vowed to step down as the leader of House Democrats after the 2022 election. 

"There was a move to put limits on the leadership and the chairs of committees. They said they were going to do it, they didn't do it," Pelosi said after the 2020 election when asked how long she planned to stay in leadership. "But what I said then was whether it passes or not, I will abide by those limits. I can't wait to be working with Joe Biden. ... I don't want to undermine any leverage I may have, but I made the statement."

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Pelosi at news conference in Capitol Visitor Center in Washington

Speaker of the House Nancy Pelosi. (Photo By Tom Williams/CQ-Roll Call, Inc via Getty Images) (Tom Williams/CQ-Roll Call, Inc via Getty Images)

But as the midterm elections have neared, it was rumored Pelosi may not rule out another bid to control the Speaker's gavel if Democrats were to retain their majority following this year's midterms.

Republicans are currently favored to take back the House after a tumultuous year for President Biden, who saw his approval rating plummet in 2021 amid a chaotic end to the war in Afghanistan, surging COVID-19 cases, and a steep rise in inflation.

Pelosi indicated she is not ready to give up fighting for her party's priorities.

President Biden walks with Senate Majority Leader Chuck Schumer of N.Y., left, and House Speaker Nancy Pelosi of Calif., right.

President Biden walks with Senate Majority Leader Chuck Schumer of N.Y., left, and House Speaker Nancy Pelosi of Calif., right. (Stefani Reynolds/Pool via AP) (Stefani Reynolds/Pool via AP)

"Our vision for a world at peace requires a strong Democracy at home," Pelosi said in the video announcement Tuesday. "We are grateful to our men and women in uniform, veterans, and military famines and honor their sacrifice with our insistence on securing voting rights."

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"Our democracy is at risk because of assaults on the truth… and the state-by-state assault on voting rights," Pelosi continued. "This election is crucial. Nothing less is at stake than our Democracy… and that is why I am running for reelection to Congress."