Sen. Schumer draws a challenger

Sen. Chuck Schumer's (D-N.Y.) campaign warchest doesn't intimate Republican Jay Townsend.

The political consultant and Fox News commentator is set to announce his bid to unseat the two-term Democrat on Saturday, according to reports.

He'll face an uphill battle -- Schumer reported having $21.8 million cash on hand at the end of March. He raised $3 million in the first quarter.

Townsend said he will outline his plans "to reshape New York" during his press conference at Donahue Memorial Park in Cornwall-on-Hudson.