Republican Conference Chairman Adam Putnam, long seen as potentially vulnerable should he run for re-election to the leadership post, announced late Tuesday night he would not run for re-election.

"I have enjoyed every minute as Conference Chairman, but I believe it is time to step off the leadership ladder and return my focus to crafting public policy solutions for America's generational challenges -- the very reason I ran for Congress in the first place," Putnam said in a statement.

An aide to Rep. Jeb Hensarling, chairman of the conservative Republican Study Committee, says Hensarling is "inclined" to run for the post and will talk with Putnam in the morning. House watchers say Hensarling is the front-runner for the position, though other Republicans, including Rep. Mike Pence, may take a look at the position.

Minority Leader John Boehner is reportedly making calls to shore up support for his position, while Minority Whip Roy Blunt will decide whether he wants to seek another term as the party's top vote-counter. Speculation has swirled that Blunt may not run, paving the way for Virginia Rep. Eric Cantor, who is said to be considering his own run.