Erskine Bowles is reportedly saying he would turn down any offer to become the next U.S. Treasury secretary, according to at least two media reports Thursday.
Bowles, the Charlotte businessman, had been widely discussed as a possible successor to current Treasury Secretary Tim Geithner, who is expected to step down at years end.
But Fox Business reported Thursday that Bowles is telling friends he would not take the job even if President Barack Obama asked him to.
Bowles served as White House chief of staff in the Clinton administration. He later joined former U.S. Sen. Alan Simpson to lead a commission tasked by Obama with putting together a plan to cut the federal deficit.
Since then, Bowles and Simpson have advocated for their plan that includes spending cuts, new revenue and changes to Medicare and Social Security.
The pair appeared on CNBCs Closing Bell on Thursday afternoon. Bowles reportedly confirmed to host Maria Bartiromo off-air that he would not serve as the next Treasury secretary, according to CNBC political reporter Eamon Javers.
Fox Business reporter Charlie Gasparino reported that Bowles would like to be given a seat at the negotiating table about the upcoming fiscal cliff, or the $600 billion mix of tax increases and spending cuts scheduled to go into effect the first of the year.
Attempts to reach Bowles for comment were not immediately successful.