UPDATE: 3:30 p.m. EDT – Speaker of the House Paul Ryan Tuesday again dispelled rumors that he would run for the presidency. “I want to put this to rest once and for all,” Ryan said, speaking at a press conference at the Republican National Committee’s headquarters in Washington, D.C. “We have too much work to do in the House to allow this speculation to swirl…Let me be clear I do not want nor will I accept the nomination of our party.”

He told delegates they should vote for a candidate who has run during the primary season. “Not running does not mean I will disappear,” he said. Ryan stressed he would focus on his speakership role and work on his policy agenda.

“I believe we can once again be an optimistic party,” Ryan said underscoring the Republican Party should be one that concentrates on solutions. Ryan’s remarks Tuesday come after months of speculation that he would enter the Republican presidential race as prospects of a brokered convention loom in Cleveland in July. The Wisconsin congressman rose to national prominence as Mitt Romney’s vice presidential running mate during the 2012 election.

Original story:

Speaker of the House Paul Ryan is expected to formally announce Tuesday that he will not run for president this year, according to a report attributed to one of his aides. Ryan, a Republican senator from Wisconsin who was Mitt Romney's vice presidential candidate four years ago, has repeatedly denied having any presidential aspirations even if there is a brokered GOP convention this summer.

A press conference has been scheduled for Tuesday afternoon at the Republican National Committee's headquarters in Washington, D.C., at which point Ryan will "put this to rest once & for all," according to a tweet from NBC News reporter Luke Russert.

Although Ryan has long denied having any intention to run for president, his actions have seemingly belied his words. On Monday, it was reported that the speaker would be traveling to New York next week to attend a secret donor meeting. Prior to that, he traveled to Israel earlier this month to meet with Prime Minister Benjamin Netanyahu.

However, in Israel Ryan took the opportunity to once again shoot down rumors that he was considering accepting his party's presidential nomination during a brokered convention, citing multiple reasons for his decision.

“I decided not to run for president,” he said at the time, reported the Times of Israel. “I think you should run, if you’re going to be president. I think you should start in Iowa and run to the tape.” Ryan went on to cite his private life as a primary factor in his decision. "I have a young family,” he said.

Ryan first came to national prominence in politics when former Massachusetts Gov. Romney selected him to be his vice presidential running mate in 2012, when the GOP duo faced off against U.S. President Barack Obama and Vice President Joe Biden during the latter's campaign for re-election. Although he and Romney fell short of reaching the White House, Ryan's political star was solidified in the process. While he returned to Wisconsin to serve his Senate term, many in the Republican Party looked at him as an eventual presidential candidate.

And in this election cycle, with the Party determined to block controversial front-runner Donald Trum from the nomination, many in the GOP as well as its members and supporters have held out hope Ryan would eventually change his mind. So much so that despite his consistently saying he would not seek or accept the nomination, he apparently decided to hold a formal news conference Tuesday to dispel any notion of his political aspirations. At least for this year.