The oldest son of former Republican presidential nominee Mitt Romney will not seek to fill John Kerry's open U.S. Senate seat. 

After much speculation, Tagg Romney has released a statement saying he has no intention to run for the seat formerly occupied by Kerry, who is now Secretary of State.

Romney says while he admits "it would be an honor to represent the citizens of our great Commonwealth," he is committed to his family and business first.

Ann Romney has also been rumored as a potential candidate for Kerry's seat, but has not made a statement confirming or denying those rumors.  (Metro Networks, Inc.)