U.S. Sen. Tim Scott of South Carolina has just lost his chief Democratic opponent.
Rick Wade — who worked on President Barack Obama's presidential campaigns and served as senior adviser to former Commerce Secretary Gary Locke — revealed Thursday that he is dropping out of the race against Scott this November.
Scott, the first African-American to represent the Palmetto State in the Senate, was appointed by Gov. Nikki Haley after Jim DeMint stepped down in December 2012 to head the Heritage Foundation.
Scott is unopposed in the upcoming GOP primary and has a political war chest of more than $3 million, according to The State
newspaper, which first reported on Wade's decision.
In a statement obtained by the newspaper, Wade said:
"Being the underdog has never deterred me from taking on tough endeavors in my life. I certainly had no illusions about being able to match a multimillion-dollar campaign war chest.
"But after a couple of months as a candidate, I've concluded that the timing of my entrance — less than a year before Election Day — had compressed the calendar too much for me to raise the money needed to mount a serious challenge."
Wade, a graduate of the University of South Carolina and Harvard University, is a self-employed consultant and a senior vice president with Greentech Automotive.
The State says Joyce Dickerson, a Richland County councilwoman, is now the lone Democrat expected to oppose Scott.
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