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Kentucky Senator Rand Paul announced Wednesday he's dropping his bid for the Republican presidential nomination.

FOX's Jared Halpern in Des Moines has details:

Senator Rand Paul was one of the first to jump in to the Republican field and often found himself an outsider on foreign policy and national security. He failed to find much traction, lingering in low single digits. He failed to qualify for one debate and finished fifth in Iowa this week. 

He's now ending his presidential run, saying in a statement... he ends where he began, ready and wiling to fight for the cause of Liberty. And adds... while he's suspended his presidential campaign, he looks forward to earning another term in the Senate. He'll now focus on reelection in Kentucky this year.

Monday night former Arkansas Governor Mike Huckabee ended his bid for the Republican nomination. Former Maryland Governor Martin O'Malley dropped out of the Democratic race.