“The election of Georgia’s next senator is 21 months away and there is plenty of time for campaigning,” he said in a statement issued to the Washington Post.
So far, only Rep. Paul Broun (R-Ga.) has announced his intentions to run for the seat, but Price has long been rumored to have retiring Sen. Saxby Chambliss' (R-Ga.) seat in mind.
However, he says in his statement that his role as vice chairman of the Budget Committee will be his main concern going forward, with a focus on developing a plan to balance the budget in a decade.
"Too often, elected officials look toward the next rung on the ladder instead of the task at hand. In the weeks to come, by demonstrating effective leadership, I will be focused on fulfilling the job I was elected to do," he says.
Going into 2014, though, Price is likely to face a hotly-contested primary. Rep. Jack Kingston (R-Ga.) has also been making moves toward a run, as have Reps. Tom Graves and Phil Gingrey (R-Ga.). Price would start off a bid in a strong position, with about $1.6 million in the bank at the end of the year, and having raised $300,000 over the past two weeks.