Cory Booker drops out of the 2020 race

Sen. Cory Booker (D-N.J.) is out of the 2020 race.

Booker announced Monday he's suspending his presidential campaign, in a statement citing a need for "money we don't have, and money that is harder to raise because I won't be on the next debate stage and because the urgent business of impeachment will rightly be keeping me in Washington."

In a video message, Booker also said he's ending his campaign "with the same spirit with which it began," promising to campaign "as hard as I can" for the eventual Democratic nominee for president.

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After entering the 2020 race last February, Booker struggled to gain traction in the polls in recent months and did not qualify for the December Democratic debate, nor did he qualify for the next debate scheduled to take place on Jan. 14. In a recent interview with The Atlantic, Booker warned, "Yes, we could lose this election. We need to elect the right person that can excite record turnouts, really have a wave election. I'm very concerned about it. Yes, I'm absolutely concerned about it." Brendan Morrow