The two-term congressman has been the center of rumors for months that he is weighing a challenge to Gov. Butch Otter (R), who has announced a bid for reelection in 2014.

Labrador made the announcement during an Idaho Statesman editorial board meeting. He entertained questions for nearly 90 minutes but did not provide details of his future political plans. He has not indicated the exact time or location of the planned press conference.

The announcement could come at the third of four town halls Labrador has scheduled for the congressional recess period, on Wednesday at 7 p.m. at Meridian City Hall.