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Former Maryland Governor Larry Hogan will not seek the Republican nomination for president, he told CBS News.

"It was a tough decision, but I've decided that I will not be a candidate for the Republican nomination for president," Hogan said in an interview with CBS News chief election and campaign correspondent Robert Costa.

The former Maryland governor, who left the post in January after serving two terms, said he gave "serious consideration" to mounting a bid for the White House in 2024, and said opting to stay out of the race was the "toughest decision I ever made."

"I care very deeply about the country and my party. I think I've been a voice of reason to try to get us back to a place where we have a more hopeful, positive vision for America," he said."I think we've made a difference and I don't plan on walking away. I'm going to continue to stay involved in that fight for the soul of the Republican Party, but I'm just not going to do it as a candidate for president."

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"I didn't want to have a pile up of a bunch of people fighting," he said. "Right now, you have, you know, Trump and DeSantis at the top of the field, they're soaking up all the oxygen, getting all the attention. And then a whole lot of the rest of us in single digits, and the more of them you have, the less chance you have for somebody rising up."