Billionaire Tom Steyer turns down speculations to contest 2020 election, will focus on Trump’s impeachment

Billionaire investor Tom Steyer said on Thursday, he will not run for the presidential election in 2020, surprising Democrats who expected Steyer to fight against the United States President Donald Trump for the White House.

Preparing for the presidential election, Steyer has spent around $50 million on his campaign calling for the impeachment of Trump.

According to news reports USA Today, during an event in Iowa’s Des Moines, the billionaire said, “I said last year that I’m willing to do whatever I can to protect our country from this reckless, lawless and dangerous president.”

Steyer further said, “Therefore, I will be dedicating 100 percent of my time, effort and resources working for Mr. Trump’s impeachment and removal from office. I am not running for president at this time.” He spent more $40 million over the impeachment effort in 2019.

Steyer said “the impeachment question has reached an inflection point” as Democrats form a new majority in the House of Representatives.

Steyer’s move has shocked some Democrats, as he has been seen as traveling across the country promoting his political platform after midterm elections in November.

At the event, Steyer said, “Most people come to Iowa around this time to announce a campaign for the presidency.” He added, “But I am proud to be here that I will do whatever it takes as long as it takes to remove a president.”

House Speaker Nancy Pelosi said the House should not move to impeach the president without any of facts and Steyer’s effort would be divisive.

Steyer said, “If someone says there are tactical, political reasons not to do the right thing for our country, I would say that’s not the basis on which we’re making a decision.”

He had built a network of the organization that is now likely to affect both key congressional races and the presidential race across the US.

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