Rep. Dean Phillips (D-Minn.) announced his candidacy for the Democratic presidential nomination on Thursday, challenging President Joe Biden for the nomination. Phillips believes Biden cannot win the 2024 general election against former President Donald Trump, and is running for president to address the high cost of living and wages not keeping up with inflation. He is a distillery heir and one of Congress' wealthiest members, and it remains to be seen if he can gain enough support to challenge Biden for the nomination.
