Michael Bloomberg files paperwork to enter 2020 Democratic primary

rules state that an individual running for president"becomes a candidate when he or she raises or spends more than $5,000 in contributions or expenditures." Although the FEC allows a grace period"to test the waters," that changes once an"individual decides to run for federal office or conducts activities that indicate he or she is actively campaigning rather than testing the waters.

Bloomberg also recently announced a plan to spend $100 million on a digital campaign attacking President Donald Trump in battleground states, making him already one of the biggest spenders of the race despite his late entry.he would not run for president and instead would focus his resources on combating climate change and gun violence.

"It’s essential that we nominate a Democrat who will be in the strongest position to defeat Donald Trump and bring our country back together.

"If Mike runs, he would offer a new choice to Democrats built on a unique record running America's biggest city, building a business from scratch and taking on some of America's toughest challenges as a high-impact philanthropist."contributed.

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