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But every good fighter knows when to hang up the gloves.

Two little-known Democrats filed papers to run for the U.S. Senate in 2018.

Three candidates from the 2012 Republican presidential primary are now weighing Senate bids, including the eventual GOP nominee Mitt Romney, who is expected to run to succeed Sen. And the president used a speech in Salt Lake City to say that he hoped Hatch would "continue to serve your state and your country in the Senate for a very long time to come".

Romney wasn't tipping his hand on social media on Tuesday, preferring to praise Hatch for his long service. Republicans on that committee led the Senate effort to overhaul the tax system which passed last month, the only major legislative accomplishment of the GOP Congress.

"It would be hard to defeat Mitt Romney if he were running here", said David Hansen, a longtime Utah Republican strategist and chairman of Mr. Hatch's political organization.

Mr Trump hit back, calling Mr Romney a "failed candidate" who "choked like a dog" in the 2012 race.

Mr Romney has been quiet about his plans and views of late.

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In a video announcement he posted online, Hatch reflected on his time as an amateur boxer in his youth as he explained his desire to step down early next year. The dispute occurred as Republicans pushed a near $1.5 trillion, 10-year tax cut for businesses and individuals through the Senate Finance Committee over Democrats' objections.

In the statement announcing his decision not to run again, Hatch cited work with the disadvantaged among his accomplishments, including helping create the Americans with Disabilities Act, expanding children's health insurance and expanding use of generic drugs.

"Congratulations to Senator Orrin Hatch on an absolutely incredible career".

In 2000, Hatch dabbled in presidential politics himself. During his time on the committee, the Senate has confirmed almost 1,900 federal judges, a majority of all federal judges that have served.

Last month, Hatch reveled in the spotlight as chairman of the Senate Finance Committee while shepherding a massive tax bill through the Senate - attention, friends and colleagues said, that made him lean toward running again.

"Senator Hatch has represented the interests of Utah with distinction and honor", Romney wrote. Hatch earned about $39,000 in royalties from his songs in 2005.