- Mitt Romney announced on a call to supporters today that he will not launch a third bid for the presidency, as first reported by talk radio host Hugh Hewitt, who obtained Romney's prepared statement.
- Romney said, "I've decided it is best to give other leaders in the party the opportunity to become our next nominee." He said that stepping aside would be best "for the party and for the nation," considering the need to elect "a conservative leader" in 2016.
- In an apparent shot at Jeb Bush, Romney argued that the party needs new leadership. "I believe that one of our next generation of Republican leaders, one who may not be as well known as I am today, one who has not yet taken their message across the country, one who is just getting started, may well emerge as being better able to defeat the Democrat nominee," he said, according to his prepared remarks.
This post has been updated to reflect breaking news.