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New face enters 2020 presidential race

A political newcomer makes their way to the election

Tom Steyer (Win McNamee/Getty Images)

A new presidential candidate has announced their campaign just in time for the second Democratic primary debate. 

Tom Steyer, founder of investment firm Farallon Capital, announced his presidential bid Tuesday, despite saying that he would not be running for president in January 2019. 

Regarding his platform, Steyer has said that he is in support of decriminalizing border crossing and expanding the size of the Supreme Court. He also endorsed a public option for health care, but does not believe in the removal of private insurance. 

Steyer plans on spending $100 million on his presidential campaign, which is more than the combined amount raised by former Vice President Joe Biden, Mayor Pete Buttigieg, Sen. Elizabeth Warren, Sen. Bernie Sanders and Sen. Kamala Harris. 

While never being elected to a position, Steyer has been focused on political efforts since 2012, starting advocacy groups such as NextGen America. 

Entering the race the day after California Representative Eric Swalwell dropped out, Steyer insures that the number of Democratic candidates remains at 20. However, so far, only 14 candidates have qualified for the debate stage later this month. 

The next Democratic primary debate will take place July 30 and 31.