Martinez announced Tuesday that he won't not seek re-election in 2010. Bush told Politico by e-mail Tuesday night: "I am considering it."

A source close to Jeb Bush said the former governor would decide whether the Senate is the best forum from which to continue his advocacy for issues such as education, immigration and GOP solutions to healthcare reform.

In an interview with Politico, Bush cited four primary steps for Republicans to regain favor with voters: show no tolerance for corruption, practice what it preaches about limiting the scope of government, stand for working families and small business and embrace reform.