Andrew Yang planning to launch third party: report

Former Democratic presidential and New York City mayoral candidate Andrew Yang is planning on launching a third party, two people familiar with the situation told Politico. 

Neither the name of the third party nor its plans to impact future elections have been revealed, but it is set to start when Yang’s book is released on Oct. 5, the sources told Politico.

His book, called “Forward: Notes on the Future of Our Democracy,” is promoted to be about moving past the country’s “era of institutional failure,” according to its publisher.

Yang gained national attention when he ran to be the Democratic nominee for the 2020 presidential election, garnering popularity from his promotion of universal basic income. 

His presidential nominee run did not get far as he dropped out after the primary in New Hampshire. 

After his failed presidential run, Yang ran for mayor of New York City. Early in the race, he was seen as a frontrunner with the amount of support and attention he received.

However, support soon dwindled and Yang ended up dropping out of the race in late June. 

“I am not going to be the next mayor of New York City based upon the numbers that have come in tonight,” Yang said at the time. 

Yang was a former businessman before entering politics.