Andrew Yang to co-chair new third political party made up of former Republicans, Democrats

Former Democratic presidential candidate Andrew Yang will co-chair a new political party alongside former New Jersey Republican Gov. Christine Todd Whitman, Reuters reported on Wednesday.

Forward, formed from three existing political groups of disaffected Republicans, Democrats, and independents dissatisfied with the existing two-party system, the new party hopes to challenge the two mainstream groups in the near future.

The centrist group has no specific policies, but aims to "reinvigorate a fair, flourishing economy" and to "give Americans more choices in elections, more confidence in a government that works, and more say in our future," the outlet reported.

Yang, speaking to Reuters, noted that the group would immediately have a large donor base due from the existing member lists of the three founding groups and said the party's budget would start at $5 million.

Also among the party's founding members is Miles Taylor, better known as the author of an "anonymous" op-ed in which he claimed to be an operative working against the Trump administration from the inside.

Yang rose to national fame through a long shot bid for the Democratic presidential nomination in 2020. He based his campaign on a prototype universal basic income plan to give Americans $1,000 per month.