Here's the press release:
“In February, after receiving strong encouragement from friends and supporters throughout Texas to consider running for United States Congress, we formed an Exploratory Committee to evaluate the race.
My wife, Carla, and I have been humbled by the broad and deep support and kindness we've received over the last 10 months from fellow Texans, including business, community and political leaders, Democrats, Independents and Republicans alike.
However, after careful consideration, and with the January 4 filing deadline approaching, I have decided that this is not the right time for me to run and I will not be filing to enter the race. This was a difficult decision for me and one I did not make lightly. I approached the decision in the same way I have approached my business decisions over the years—in an informed, realistic and fiscally-responsible way. In the next few weeks, we will be offering to return the contributions made to our committee.
For Carla and me, the last 10 months have provided some of the best and most enriching moments of our lives—with so many wonderful people from throughout the district and state sharing with us their hopes and concerns. As we look ahead, I remain more committed than ever to public service, to the need for more people in government who can put aside partisanship to do what’s right for Texas and America and to my work with the State of Texas' Emerging Technology Fund and the Greater Austin Chamber of Commerce to create more good jobs in the state.”
McDonald had raised $932,613 for the race and still had (at September 30) $805,308 in the bank. McCaul, by comparison, had $891,906 on hand at the end of that quarter.