Breaking: Dem Congressman David Wu of Oregon To Resign

He had said he wouldn't resign just 2 days ago

Rep. David Wu plans to resign following allegations that he had a forced sexual encounter with a young woman last year.

The Oregon Democrat said Tuesday that he would step down pending "resolution" of the debt-ceiling crisis.

"The time has come to hand on the privilege of high office," he said in a statement. "I cannot care for my family the way I wish while serving in Congress and fighting these very serious allegations."

Wu cited the "wellbeing of my children" in announcing his decision. He also said his resignation would "avoid any distraction from the important work at hand in Washington."

The congressman had earlier told colleagues that he wanted to finish out his term and retire at the start of 2013. But House Democratic Leader Nancy Pelosi applied pressure to Wu Monday by formally requesting an ethics committee investigation into his actions.