Months of speculation will be put to rest on Monday when Senator Chuck Hagel is scheduled to unveil plans for his political future. The announcement has the potential to send political dominoes toppling across Nebraska.

Hagel will hold a news conference at 10 a.m. at the University of Nebraska at Omaha's alumni center.

There has been speculation in political circles for more than a year that the outspoken critic of the war in Iraq might seek the Republican nomination for president in 2008. Hagel has said for weeks that he would make an announcement about his future "soon" but hasn't indicated whether that announcement would reveal his presidential aspirations, if any, or whether he would seek re-election to the Senate in 2008.

"Everybody is abuzz about what he might say, and nobody seems to have the slightest idea what he'll say," said Pat McPherson, Republican chairman for the 2nd congressional district.

Former Nebraska Congressman and Omaha Hal Daub is a member of the Republican National Committee.

Daub said he doesn't know what Hagel will say either.

"He could say he's going to wait until after Labor Day to make an announcement. That might be a viable option given the way the playing field looks," said Daub. "I think Monday is going to be interesting."

Tiffiny Carlton, executive director of the Nebraska Republican Party, said Hagel would be a viable presidential candidate.

"I think most Nebraskans would be proud to have their favorite son as one of the candidates," Carlton said.

The 60-year-old Hagel is scheduled to appear with nine declared presidential hopefuls at the International Association of Fire Fighters' annual meeting next Wednesday. Each participant in the bipartisan forum will have 30 minutes to discuss why he or she should be the next president.

Hagel has been the most outspoken Republican critic of Bush's policy.

"We can't change the outcome of Iraq by putting American troops in the middle of a civil war," Hagel said last month.

If Hagel decides to run for president, he'll be joining an already crowded field of Republican candidates which includes: U.S. Sen. John McCain, R-Ariz., former Massachusetts governor Mitt Romney, former New York City Mayor Rudy Giuliani, Sen. Sam Brownback of Kansas.

McPherson said Hagel may have tipped his hand when word came out that he would be part of next week's Washington forum.

"You've got to regard Chuck seriously as a potential presidential nominee," McPherson said. "It doesn't surprise me he would be there (at the forum). He has a very strong appeal to a great number of people when it comes to looking at an alternative presidential candidate.

Daub said Hagel would be well-qualified to be president.

"Senator Chuck Hagel has a demonstrated capacity to deal intelligently and forthrightly with the great issues of our time," said Daub. "He is a conservative with a big-picture understanding and views and truly possesses the highest quality of leadership capability."

Hagel, a native of North Platte, entered politics in 1996 after serving as president of McCarthy & Co., an investment banking firm based in Omaha, and chairman of the board of American Information Systems.

He soundly defeated Nebraska Attorney General Don Stenberg in the Senate primary, earning 62 percent of the vote. He went on to defeat Democratic Governor Ben Nelson, who was later elected to the Senate in 2000. Nelson is now Nebraska's junior senator.

Hagel was re-elected in 2002, winning 83 percent of the vote against Democrat Charlie Matulka, an unemployed construction worker.

The last time Nebraska had presidential contender came 15 years ago when Senator Bob Kerrey, D-Neb., ran for the Democratic nomination in 1992. Kerrey failed to win much support in any primary except South Dakota and eventually withdrew.