FOX NEWS -- Gov. Tim Walz of Minnesota announced on Monday that he's dropping his bid for a third term as governor amid stinging criticism of the unsuccessful 2024 Democratic vice presidential nominee's handling of his state's massive welfare assistance fraud scandal.

"But as I reflected on this moment with my family and my team over the holidays, I came to the conclusion that I can’t give a political campaign my all," the governor added. "Every minute I spend defending my own political interests would be a minute I can’t spend defending the people of Minnesota against the criminals who prey on our generosity and the cynics who prey on our differences."

"So I’ve decided to step out of the race and let others worry about the election while I focus on the work," the governor announced.