Bloomberg re-registers as Democrat amid rumors of 2020 presidential run

Michael Bloomberg changes party affiliation, re-registers as Democrat

Michael Bloomberg, the billionaire former New York City mayor and potential 2020 presidential candidate, announced Wednesday that he re-registered as a Democrat, saying the party must "provide the checks and balances our nation needs so badly".

Bloomberg, who was elected mayor as a Republican and an Independent, has been toying with the idea of running for president in 2020 as a Democrat.

Worth an estimated $50 billion, Bloomberg is a social liberal who is in sync with the Democratic Party on issues like gun control, immigration, abortion rights and climate change.

He later became an Independent.

"At key points in US history, one of the two parties has served as a bulwark against those who threaten our Constitution".

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His change is seen as a possible move to running for president in 2020.

But he has not yet made a final decision. His advisers told the Washington Post this month, amid the contentious fight over the confirmation of Supreme Court Justice Brett Kavanaugh, that he would spend an additional $20 million to help Democrats retake the U.S. Senate.

"It's impossible to conceive that I could run as a Republican - things like choice, so numerous issues, I'm just way away from where the Republican Party is today", he told the Times. "So if you ran, yeah, you'd have to run as a Democrat".

He has entertained the idea of a presidential run before but never generated enough traction to establish himself as the kind of outsize political force his fellow NY billionaire has become.

"Truth be told, the richest thing about Donald Trump is his hypocrisy", Bloomberg said in his speech at Democratic National Convention in July 2016.

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