Mr Bush, brother of former US President George W Bush, last month announced he was "exploring" running for president.
A 2016 bid could bring him up against the former first lady, Hillary Clinton.
Mr Bush's father, former President George HW Bush, was defeated by Mrs Clinton's husband, Bill Clinton, in the 1992 election.
A former US Secretary of State, Mrs Clinton is the Democratic frontrunner and widely expected to run, although she says she will make a decision in 2015.
Jeb Bush's spokeswoman Kristy Campbell told the Post his decision to shed a large number of his business commitments, effective from New Year's Day, meant he could focus on a "potential" run for president.
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