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Paul Ryan Says He's Not Running for President in 2016

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House Budget Committee Chairman Paul Ryan, R-Wis., answers questions as he and Senate Budget Committee Chairwoman Patty Murray, D-Wash., announce a tentative agreement between Republican and Democratic negotiators on a government spending plan, at the Capitol in Washington, Tuesday, Dec. 10, 2013. (AP Photo/J. Scott Applewhite)

Wisconsin Rep. Paul Ryan, the 2012 Republican vice presidential nominee, says he won’t make a bid for the White House in 2016.

House Budget Committee Chairman Paul Ryan, R-Wis., answers questions as he and Senate Budget Committee Chairwoman Patty Murray, D-Wash., announce a tentative agreement between Republican and Democratic negotiators on a government spending plan, at the Capitol in Washington, Tuesday, Dec. 10, 2013. (AP Photo/J. Scott Applewhite) AP

"I have decided that I am not going to run for president in 2016," Ryan told NBC News Monday.

Ryan said he is “at peace” with the decision.

"It is amazing the amount of encouragement I have gotten from people — from friends and supporters — but I feel like I am in a position to make a big difference where I am and I want to do that," Ryan told NBC.

Previously the House Budget Committee chairman, Ryan said he thinks he can now make a “big difference” as chair of the House Ways and Means Committee.

Regarding the other half of the 2012 Republican ticket, Ryan said: “It is no secret that I have always thought Mitt would make a great president. As for his plans for 2016, I don't know what he is ultimately going to do and the last thing I want to do is get ahead of his own decision making process."

Romney last week told supporters he is considering a third presidential bid.

Washington Post reporter Robert Costa tweeted that Romney is likely in the 2016 race.

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