“This is an extraordinary time in history. This country has never faced the enormous challenges, from both external factors and within our own government. Our democracy is so ill-governed and on a dangerous precipice,” Wallace said according to the Bucks County Courier Times.
Wallace is leaving his position as the co-chair of the Wallace Global Fund, where he has worked for the last 15 years.
In his announcement video, Wallace was endorsed by Bucks County Commissioner Diane Marseglia, who had been rumored to be considering a run.
The National Republican Congressional Committee jumped on Wallace’s announcement, and his move back to Bucks County.
“As a self-described multi-millionaire, Scott Wallace is already pushing for tax increases while more than half of all Pennsylvanians are living paycheck-to-paycheck. Voters have no appetite for a liberal Washington lobbyist trying to buy a Congressional seat,” NRCC spokesman Chris Martin said.
You can view Wallace’s announcement below.