Rick Perry Won't Seek Another Term as Texas Governor

In a much anticipated announcement Monday, Texas Governor Rick Perry said he will not seek re-election for a fourth term next year in the Lone Star State. 

Perry touted 1.6 million new jobs, low taxes and pushing back against federal government overreach under his tenure as governor while keeping mum about plans for a 2016 presidential run.

"The time has come to pass on the mantle of leadership," Perry said to reporters Monday. "Any future considerations I will announce in due time, and I will arrive at that decision appropriately."

Perry is the longest serving governor of Texas. Texas Attorney General Greg Abbott is expected to make a run for the empty seat next year.