Sen. Christopher Dodd is expected to announce his retirement tomorrow at a press conference at his home, according to The Washington Post.

The Post reports that Connecticut Attorney General Richard Blumenthal LAW ’73, also a Democrat, is widely expected to run for Dodd’s seat.

A November Quinnipiac University Poll showed Dodd would likely not have fared well against Republican candidates in the 2010 elections. After a failed presidential bid in 2007, Dodd’s popularity slipped amid reports that he had received a VIP loan from Countrywide Financial, though he was eventually cleared of wrongdoing.

This past fall, Dodd, the chairman of the Senate Banking Committee and a sponsor of the $700 billion stimulus bill, faced scrutiny when the insurance giant AIG awarded seven-figure bonuses to executives despite receiving over $80 billion in public funds under the act.

Dodd, 65, was first elected to the Senate in 1980 and has served five terms representing Connecticut.

UPDATE: Wednesday, Jan. 6, 12:20 p.m. Blumenthal told the Associated Press on Wednesday morning that he will run for Dodd’s Senate seat. The five-term attorney general is expected to announce his candidacy at 2:30 p.m. today in Hartford.