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In 1992 and 1993, Kemp was considered the favorite or co-favorite for the 1996 Presidential nomination.
At the time of the 1994 mid-term elections, Kemp was widely anticipated to announce his candidacy for 1996, and his supporters wanted a formal announcement by the end of the year.
In January 1995, Kemp's stated reason for not entering the 1996 Republican Party presidential primaries was that his personal beliefs were out of balance with the contemporary Republican political landscape: Kemp opposed term limits, he always preferred tax cuts to anything resembling a balanced budget amendment and, unlike most Republicans, favored federal incentives to combat urban poverty.
Gergen stated that by 1996 the selection process had become so expensive, mean and personally invasive that it discouraged several top Republicans from running.
In 1995, while the world awaited the campaign decision announcement by Colin Powell, Kemp had positive thoughts on the prospect of such a campaign.
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