Rep. Charlie Rangel will not step down from his post as chairman of the House Ways and Means Committee, an attorney for the Democratic congressman announced Tuesday during a conference call with reporters.
Lanny Davis — the attorney for the embattled chairman — said Rangel "has not done anything wrong" and will retain his position.
"Mr. Rangel has not considered, nor has it ever been on the table that he would step aside from his position as chairman of the House Ways and Means Committee," Davis said.
Rangel has come under fire in recent days for unreported income and unpaid taxes on a beach vacation home in the Dominican Republic, which the House ethics committee is currently investigating.
The congressman has been meeting privately over the past two days with House Democratic leaders and has hired a well-known accounting firm to sort out his problematic personal finances.
Davis called reports that his client would step aside "false," saying Rangel "has not dishonored the House" and "has not done anything wrong."
"If there were errors, it was not intentional," he said.
"The chairman believes the facts should prevail. Not the innuendo of the Republican leadership."
Asked about her preference in the matter, House Speaker Nancy Pelosi said she sees no reason why Rangel would resign his post, nor has she asked him to do so.
The National Republican Congressional Committee, which runs the fundraising arm for House candidates and claims Rangel's wrangling has been a fundraising boon for the GOP, said the latest reaction by Democrats proves they are not the ethical reformers they claim to be.
"It is comforting to know that in a time of financial crisis, Democrats are proudly standing by an individual who not only circumvented the very tax hikes he himself has authored, but then escaped responsibility by claiming he is incapable of keeping his own financial house in order,” said NRCC spokesman Ken Spain.
Rangel called on the House ethics committee to review his case. Davis said Rangel has employed a prestigious accounting firm to conduct an independent review of all his income tax filings over the last 20 years and indentify errors and ommissions.
The firm will "deliver its accounting to the ethics committee before I or Mr. Rangel have an opportunity to review it," he said.
FOX News' Chad Pergram and The Associated Press contributed to this report.