Tom Steyer, a Democratic megadonor and President Trump impeachment advocate, launched a presidential bid Tuesday vowing to spend $100 million on the race for his party’s nomination.
“If you think that there’s something absolutely critical, try as hard as you can and let the chips fall where they may. And that’s exactly what I’m doing,” Steyer, 62, said in an announcement video. “My name’s Tom Steyer, and I’m running for president.”
In the video, the billionaire hedge fund manager and environmentalist seemed to frame his candidacy as a populist and an outsider set to take on the corrupting influences of corporations and special interests on the country’s political system.
“Americans are deeply disappointed and hurt by the way they’re treated by what they think is the power elite in Washington, D.C.,” he added. “And that goes across party lines and it goes across geography.”
It’s true. I’m running for president. pic.twitter.com/u8x2lZah7Z
— Tom Steyer (@TomSteyer) July 9, 2019
Steyer held a press conference in January to tell reporters he wouldn’t seek the White House in the 2020 cycle, despite building a national profile for himself through his “Need to Impeach” petition to oust Trump from the Oval Office, investing $120 million ahead of the 2018 elections, and traveling to a slew of early-voting states touting his “Five Rights” platform.
Regardless of his pledge to spend millions of dollars on his presidential aspirations, he will still need to raise grassroots support to compete in the Democratic National Committee-sanctioned debates.
Steyer faces a field of about 24 Democratic rivals. He’s also at odds with Democratic leaders in Congress, who are cautious about pushing impeachment against Trump, arguing it could backfire.
On Tuesday morning, the Republican National Committee rolled out a line of attack against Steyer likely to be used increasingly in the coming months.
“After a false start, left-wing extremist Tom Steyer has finally formalized his self-promotion tour under the guise of a presidential campaign,” said RNC spokesman Steve Guest. “The only thing Steyer’s campaign will do is light more of his money on fire as he joins the rest of the 2020 Democrat field in pushing policies that are way outside the mainstream.”
