© Greg Nash
Former New York City Mayor Michael BloombergMichael BloombergWithout drastic changes, Democrats are on track to lose big in 2022 Bidens, former presidents mark 9/11 anniversary The tragedy of 9/11 — an inflection point in American history MORE is considering a third-party bid for president, telling allies he could spend at least $1 billion to mount the uphill climb, according to the New York Times.
He has reportedly set a final deadline of early March and has asked his aides to create a roadmap for his potential bid. Those efforts include research into state-specific rules on how to appear on presidential ballots and a "detailed study of past third-party bids," the report says.
If Bloomberg were to run, one plan would have him give a "series of detailed policy speeches" and hit the airwaves with an aggressive push to boost his name recognition and frame him as a "technocratic problem-solver and self-made businessman who understands the economy and who built a bipartisan administration in New York."
The paper previously reported that Bloomberg polled how he'd stack up in a three-way brawl against Democratic front-runner Hillary ClintonHillary Diane Rodham ClintonClinton lawyer's indictment reveals 'bag of tricks' Attorney charged in Durham investigation pleads not guilty Attorney indicted on charge of lying to FBI as part of Durham investigation MORE and Republican leader Donald TrumpDonald TrumpKinzinger says Trump 'winning' because so many Republicans 'have remained silent' Our remote warfare counterterrorism strategy is more risk than reward Far-right rally draws small crowd, large police presence at Capitol MORE, and now says he will poll again after the New Hampshire primary.
Bloomberg has said he'd be more likely to run if Sen. Bernie SandersBernie SandersSunday shows preview: Coronavirus dominates as country struggles with delta variant Democrats urge Biden to commute sentences of 4K people on home confinement Briahna Joy Gray: Push toward major social spending amid pandemic was 'short-lived' MORE won the Democratic nomination and either Trump or Sen. Ted CruzRafael (Ted) Edward CruzSunday shows preview: Coronavirus dominates as country struggles with delta variant More than 10,000 migrants await processing under bridge in Texas Senators slow Biden with holds at Pentagon, State MORE won the Republican nomination.
Ed Rendell, a former chairman of the Democratic National Committee, told the Times that he'd "take a look" at backing Bloomberg in that hypothetical situation.
The pledge to spend $1 billion of his fortune could upend the race and potentially pit two of the wealthiest candidates in modern times against each other.
Trump, also a billionaire, has said he's self-funding his campaign and would be willing to aggressively ramp up the spending. But so far, that hasn't been necessary as he's received donations without solicitation and has dominated most polls without much spending.
Morning Consult tested a Bloomberg third-party bid against Clinton and Trump in a poll this week.
It showed Trump with 37 percent, Clinton with 36 percent, and Bloomberg with 13 percent.
The former New York City mayor was most popular with independents, winning 18 percent of that group, but only 8 percent of both Republicans and Democrats.
- Updated at 1:20 p.m.