Rep. Michael Grimm announced late Monday that he will resign his seat in Congress, one week after the Staten Island, New York Republican pleaded guilty to federal tax evasion.

Grimm said he did not believe he could be fully effective in the new Congress and needed to start the next chapter of his life.

"This decision is made with a heavy heart, as I have enjoyed a very special relationship and closeness with my constituents, whom I care about deeply," Grimm said Monday in announcing his resignation.

House Speaker John Boehner said Grimm made the right decision and that his action was "honorable," adding that he knows Grimm made his decision "with the best interests of his constituents and the institution (the House) in mind," reported the Associated Press.

Grimm, 44, is a former Marine and FBI agent who won reelection to the House in November after serving one term as congressman of New York's 11th District, which covers all of Staten Island and parts of Brooklyn.

Grimm told reporters he vowed to stay in Congress last week even after he pled guilty in federal court to one count of tax evasion. Grimm is due to go to trial February to face a 20-count indictment involving tax evasion.

In April, Grimm was accused of concealing more than $1 million in revenue and failing to report hundreds of thousands of dollars in employee pay at his Manhattan restaurant Healthalicious. He was scheduled to go to trial in February and face a 20-count indictment for paying workers -- some of them undocumented immigrants -- off the books with cash, underpaying his taxes and committing perjury in running the Upper East Side restaurant. He reached an agreement with federal prosecutors last week and pled guilty to one count on Dec. 23.

Under the plea agreement, Grimm could face up to three years in federal prison. His sentencing is scheduled for June 8.

"Although it was a little restaurant, I made some big mistakes," he told reporters outside the Brooklyn federal courthouse following his guilty plea last week.

"Mistakes that I immensely, immensely regret, and that I am truly sorry for, but that I also accept full responsibility for all of those mistakes in every way. And as difficult as it is and it's difficult to admit when you're wrong, I was. I underreported the gross sales receipts of the restaurant to pay business expenses, including payroll for employees who were off the books. It's true."

The charges arose from a separate investigation into Grimm's campaign finances. Although he was never charged with any campaign-related offense, a woman romantically associated with Grimm pled guilty in September to illegally funneling money to his 2010 run for Congress. Grimm has denied any knowledge of the scheme.

In January, Grimm made waves for threatening a local TV reporter on camera. The reporter was interviewing Grimm before President Barack Obama's state of the union address when he asked about allegations concerning the federal inquiry into his campaign finances. Grimm, believing the question was an unfair ambush, said he would to throw the reporter over the balcony and "break [him] in half" if he ever asked about the federal investigation again.

Grimm's resignation will take effect after the 114th Congress convenes January 6. His absence will reduce the GOP majority in the House from 247 seats to 246. A special election will eventually decide Grimm's successor.

Speculation as to his successor has centered on Richmond County District Attorney Dan Donovan.

"Over the course of the last week, I have been asked by numerous elected officials, party leaders, supporters and the media whether I would run for a vacancy in the 11th Congressional District. My response was that at that time there was no vacancy so any discussion of a run was premature," said Donovan in a released statement.

"Last night and this morning, with the announcement that a vacancy will exist, my phone has been ringing off the hook.

"I am deeply flattered by the enthusiastic expressions of support I have received over the last 12 hours, and I am very seriously considering the race. I will make an announcement after the due deliberation such an important decision deserves."

Donovan was the prosecutor who asked a grand jury to investigate whether there should be an indictment of New York Police officers in the homicide of Eric Garner. The jury did not hand down an indictment, which has led to months of protests by people angry over the decision.