A candidate for U.S. Senate is dropping out of the race.
Kip Smith's assistant says the candidate is dropping out of the race, because he doesn't have the funds to continue.
He will make a formal announcement tomorrow.
Smith is a graduate of DC Everest High School and has working in health care in Rhinelander for 17 years.
There are still several candidates vying for the Republican nomination: former Wisconsin governor Tommy Thompson, Assembly Speaker Jeff Fitzgerald, former congressman Mark Neumann, and hedge fund manager Eric Hovde.
Rep. Tammy Baldwin is running as a democrat.
The seat will open with the retirement of Sen. Herb Kohl.
The following is a statement released by Hovde.
Hovde Campaign: Statement on Kip Smith's decision to exit U.S. Senate Race
Madison—Conservative businessman and U.S. Senate candidate Eric Hovde released the following statement Monday regarding Rhinelander physical therapist Kip Smith's decision to suspend his campaign for the United States Senate:
"Kip Smith was running for Senate for the right reasons. Like me, he wanted to be a citizen legislator who would fight to rein in out-of-control spending, balance the budget and put our nation back on track. I enjoyed meeting Kip and spending time with him on the campaign trail, and I hope he will continue to speak out against the problems we face."