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Steyer Joins Democratic Presidential Field

Billionaire political activist and persistent Trump critic Tom Steyer has declared his candidacy for the Democratic presidential nomination. That came only a day after the crowded field appeared to be beginning the winnowing process with the exit of Rep. Eric Swalwell.

Steyer, a former hedge fund manager, has been pouring money into TV ads calling for the President's impeachment.

“Corporate money has corrupted our democracy and stripped Americans of our ability to determine our own future,” said Steyer. “The only way for us to solve the urgent problems facing our country is to loosen the stranglehold that corporations have over our politicians and return political power to the American people.”

Steyer said the focus of his campaign will be twofold, reverse "the corporate takeover of our politics," and addressing climate change.

He has resigned his positions at progressive action group NextGen America and Need to Impeach, but said he will put $50 million into them through next year "to ensure both organizations fulfill their missions."