Texas Republican Rep. Ron Paul made a surprise announcement Tuesday that he will not seek re-election to Congress, spelling an end to a nearly 24-year House career amid his third run for president.

Paul, who remains significantly behind in many current national polls, first ran for president as a Libertarian in 1988, and as a Republican in 2008.

Even though both bids came up empty, Paul significantly demonstrated the power of his base in 2008, shocking national observers with his ability to quickly raise large sums of cash from loyal followers who favored his small government ideology. That same base is rallying around his 2012 efforts.

His decision leaves his Northern Gulf Coast 14th District seat up for grabs. Paul indicated to The Facts that he wanted to reveal his decision sooner rather than later, evidently to permit the field of would-be successors to plan out their 2012 races.