Editor's Note: This article has been updated to reflect new information.
President Joe Biden drops from the 2024 presidential election, according to a statement he released to his official social media platforms.
"It has been the greatest honor of my life to serve as your President. And while it has been my intention to seek reelection, I believe it is in the best interest of my party and the country for me to stand down and to focus solely on fulfilling my duties as President for the remainder of my term," Biden said in a statement on his social media.
In a statement on his campaign's X account, the President endorsed his current Vice President Kamala Harris.
Biden plans to serve out the remainder of his term in office, which ends at noon on Jan. 20, 2025.
The announcement came after weeks of deliberation and outpour from politicians in both parties for Biden to step down. Early polling showed Biden to be trailing behind Trump following a less-than-preferred debate performance last month.
Biden will address the nation later this week, according to the statement.
This story will be updated.
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