Sen. Tom Cotton (R-AR) has reportedly decided against running for president in 2024 following months of speculation that the 45-year-old was gearing up to pursue the nation’s highest office.
Multiple reports said that Cotton only recently made the decision and that family played a role in his choice.
A source told CNN that Cotton did not want to be away from his two sons, ages five and seven, while on the campaign trail.
Politico reported that Cotton has made clear to donors that he is “open to serving in a future Republican presidential administration.”
Cotton faced an uphill battle to get into the top tier of Republican candidates in terms of where they currently sit in polling as Florida Governor Ron DeSantis (R) and former President Donald Trump (R) are the only two candidates that consistently poll in the double digits.
Cotton made news earlier this month when he and other top Republican senators sent letters to dozens of companies instructing them to “preserve relevant documents” as lawmakers float antitrust investigations regarding the environmental, social, and governance movement, also known as ESG.
The letter, which was spearheaded by Cotton, told more than four dozen law firms to warn corporate clients about “the risks they incur by participating in climate cartels and other ill-advised ESG schemes,” referencing the fact that FTC Commissioner Lina Khan recently said during a hearing that there is no “ESG exemption” to antitrust laws.
“The ESG movement attempts to weaponize corporations to reshape society in ways that Americans would never endorse at the ballot box,” the letter stated. “Of particular concern is the collusive effort to restrict the supply of coal, oil, and gas, which is driving up energy costs across the globe and empowering America’s adversaries abroad.”
Beyond asset managers encouraging portfolio companies to rapidly pivot toward renewable energy, six major banks recently came under scrutiny from Republican state attorneys general for jointly vowing to discourage fossil fuel use and investment. The financial institutions were served with civil investigative demands requesting details about their involvement with Net-Zero Banking Alliance, a project of the United Nations which seeks to unify bank portfolios toward the goal of eliminating carbon emissions by 2050.
“Over the coming months and years, Congress will increasingly use its oversight powers to scrutinize the institutionalized antitrust violations being committed in the name of ESG, and refer those violations to the FTC and the Department of Justice,” the letter added. “To the extent that your firm continues to advise clients regarding participation in ESG initiatives, both you and those clients should take care to preserve relevant documents in anticipation of those investigations.”
Ben Zeisloft contributed to this report.