Gingrich won’t run – cites campaign finance laws

After considering a presidential run, former House speaker Newt Gingrich anounced on Sunday that he was no longer considering a White House bid. Gingrich cited campaign finance laws, which precludes "a middle class candidate" as the reason he decided not to run.

Bloomberg news reports that "speaking on Fox News, Gingrich said the 2002 campaign finance law known as McCain-Feingold that would have forced him to sever ties with his advocacy group, which also raises money, is a “censorship and anti-citizenship act.”

‘If you’re a middle class candidate, you get to raise $2,300 a person and if you’re rich, you can write a $100 million personal check,’ he said."