Montana Gov. Steve Bullock drops out of 2020 presidential race

What You Need to Know: Steve Bullock

WASHINGTON — Montana Gov. Steve Bullock has suspended his 2020 presidential campaign, multiple news outlets are reporting.

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In a statement released Monday morning, the red state Democrat acknowledged that he "won't be able to break through to the top tier of this still-crowded field," The Washington Post reported.

Bullock's campaign spokeswoman added that he does not plan to run for U.S. Senate, according to the newspaper.

In May, Bullock, 53, announced his candidacy in a campaign video posted to his social media accounts.

"I believe in an America where every child has a fair shot to do better than their parents," Bullock said in the announcement. "But we all know that kind of opportunity no longer exists for most people. For far too many, it never has."

He continued: "We need to defeat Donald Trump in 2020 and defeat the corrupt system that lets campaign money drown out the people's voice, so we can finally make good on the promise of a fair shot for everyone."

Bullock, a father of three, was elected governor in 2012 and is currently in his second term.

"Governor Bullock has been able to bridge partisan divides his entire career," the website said. "In the same year that Trump won the state by 20 points, Bullock won by 4."

According to CBS News, Bullock "has supported same-sex marriage, net neutrality and held pro-choice views on abortion."