Rep. Grimm Pleads Guilty to Felony

Staten Island congressman pleads guilty to tax evasion, says he has no plans to resign.
1:39 | 12/23/14

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Transcript for Rep. Grimm Pleads Guilty to Felony
Now, to Washington, and a stunning fall from grace. Congressman Michael Grimm, seen in this video, threatening to throw a report earl over the balcony there. Well tonight, pleading guilty to felony tax evasion, but vowing to stay in congress. ABC's David Wright, face-to-face with him today. Reporter: After vowing to fight the charges against him "Tooth and nail," congressman Michael Grimm today pled guilty to one count of lying on his taxes. That confrontation with the reporter -- it was about this investigation. Let me be clear to you. Reporter: But today, he admitted that as the owner of the New York City restaurant healthalicious he cooked the books. As part of his plea deal, he'll now pay three years worth of state and federal taxes he owes. Congressman Grimm is now a convicted felon. Under the house rules, he is allowed to keep his seat, but he might not be allowed to vote on the house floor, so -- he now faces some serious questions. I'm certainly truly sorry for it, but I also accept full responsibility. Reporter: Congressman, will you resign? Today at first he ignored that question. But finally admitted he plans to stay. I close this chapter in this life. Reporter: Congressmen doesn't taking full responsibility mean you should resign? Absolutely not. Reporter: Today, the FBI said noy only did Grimm fail to pay his fair share of taxes, he also lied under oath to conceal his criminal activity. Next month he'll be sworn in as a member of the 114th congress. Six months later, he may be headed to prison. David Wright, ABC news, Brooklyn.

This transcript has been automatically generated and may not be 100% accurate.

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