Presidential candidate Bill Weld William (Bill) WeldRalph Gants, chief justice of Massachusetts supreme court, dies at 65 The Hill's Campaign Report: Biden visits Kenosha | Trump's double-voting suggestion draws fire | Facebook clamps down on election ads Biden picks up endorsements from nearly 100 Republicans MORE warned of a Republican Party split and Democratic takeover of the Senate if the GOP continues in its current direction.

“Donald Trump would be in charge of the know-nothing party, which was half of the Whig Party that split a century ago, and you know, they were founded on anti-immigrant prejudice, violent rallies and conspiracy theories,” he told Fox Business Network anchor Neil Cavuto on “Cavuto: Coast to Coast.”

“So history does have a way of repeating itself, and the wonderful thing about the Whig Party splitting up is the other half elected Abraham Lincoln,” he added.

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Weld, a former Massachusetts governor, also said if the GOP persists in their efforts, “The emperor has a wonderful suit of new clothes, I think the Republicans will lose the Senate and we’ll have a Democratic Senate and House next year.”

The Senate currently has a GOP majority, with the party holding 53 seats in the upper chamber.

Weld, speaking ahead of Monday’s Iowa caucuses, said he and former Rep. Joe Walsh Joe WalshSunday shows preview: Protests continue over shooting of Blake; coronavirus legislation talks remain at impasse Republicans officially renominate Trump for president Tucker Carlson responds to guest correcting pronunciation of Kamala Harris's name: 'So what?' MORE (R-Ill.) expect to do “reasonably well” in the caucuses, noting Walsh spent more time in the Hawkeye State. The former governor said he will have to “wait and see” what happens in the following New Hampshire primary.

Weld and Walsh have launched long shot challenges against President Trump Donald John TrumpBarr criticizes DOJ in speech declaring all agency power 'is invested in the attorney general' Military leaders asked about using heat ray on protesters outside White House: report Powell warns failure to reach COVID-19 deal could 'scar and damage' economy MORE for the GOP nomination.

—Updated at 5:27 p.m.