Swalwell drops out of presidential race, Steyer set to enter
Rep. Eric Swalwell, D-Calif., abandoned his uphill run for president Monday and announced that he will instead seek a fifth term in the House.
As Swalwell quit the race, another Californian, Tom Steyer, who had earlier said he would not mount a 2020 presidential run, was preparing to announce he has changed his mind.
The San Francisco billionaire, a former hedge fund chief, aims to enter the campaign for the Democratic nomination this week, according to a source close to Steyer. The liberal activist had traveled to Iowa in January to announce he was not running.
Swalwell, of Dublin in the San Francisco Bay Area, has languished for months near the bottom of the polls. The 38-year-old congressman had sought to cast himself as the candidate of a younger generation but was eclipsed by Mayor Pete Buttigieg, 37, of South Bend, Indiana, and former U.S. Rep. Beto O’Rourke, 46, of Texas.
After canceling a visit to New Hampshire, the first primary state, Swalwell scheduled a news conference Monday afternoon in his East Bay congressional district, where he announced his decision.
Swalwell’s departure from the race could be the first of many.
The Democratic National Committee has set increasingly difficult criteria for candidates to qualify for upcoming debates, which could bar a large group of them from the stage in September. Those left out will inevitably find it harder to raise the money they need to sustain their campaigns.
Swalwell had sent mixed signals on his intention to run for reelection to Congress if his White House bid failed. But he said Monday he would run for reelection to his House seat next year.
A member of the House Intelligence and Judiciary committees, Swallwell is a cable TV fixture known as a relentless critic of President Donald Trump.
The former Alameda County prosecutor often highlighted his support for strict gun control.
Steyer would enter the race a considerable long shot — up against candidates with far more name recognition and robust political resumes, including Biden, and Sens. Kamala Harris of California, Elizabeth Warren of Masschusetts and Bernie Sanders of Vermont.
Beyond a large bank account, though, Steyer enters the race with one thing most of his rivals lack: a large and sturdy political infrastructure. Groups he has funded, NextGen and Need to Impeach, have been recruiting members and building a national network of activists pushing impeachment, action to combat climate change, universal healthcare and other progressive goals.