Texas Gov. Rick Perry will be dropping out of the Presidential race today, according to Politico. Perry is expected to make the announcement in a press conference sometime before tonight’s debate, and will likely support Newt Gingrich’s candidacy.

Two sources familiar with the campaign told CNN that Perry “is telling supporters that he will drop his bid Thursday for the Republican presidential nomination.”

Despite today’s announcement, Perry was still campaigning last night — appearing at an abortion-themed presidential forum in South Carolina where he said that, as president, he would outlaw abortion and defund Planned Parenthood.

Though Perry was an early favorite to become the GOP nominee, a poor debate performance in Orlando led to fading numbers in the polls, and a series of gaffes didn’t help.

Former Utah Gov. Jon Huntsman dropped out of the race only days ago, announcing that he would be endorsing Mitt Romney. Some of Huntsman’s former campaign workers (like Gov. Rick Scott’s campaign manager Susie Wiles) had left his campaign in recent months, and are now working for Romney.

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