We examine the impact of a six‐term tenure limit on members of the U.S. House of Representatives. The first part of this study develops a methodological framework for simulating the quantitative impact of term limits. The second part of this study uses this framework to estimate the effects of term limits on (i) the value of holding office, (ii) turnover, and (iii) the size of the Democratic majority in the House. Both steady‐state and transition period effects are explo