Former Virginia Sen. Jim Webb is dropping out of the 2016 presidential race as a Democrat, but is said to be mulling an independent bid according to Fox News.

He will make an announcement at a press conference at 1 p.m. ET.

Webb is said to be disillusioned with the Democratic Party — as well as the Republican Party — and how the political parties are being pulled to allegedly extreme positions by the huge amounts of loosely regulated money fueling the campaigns.

The former senator is not expected to launch an independent campaign quite yet. He is reportedly talking to people “across the political spectrum” for advice before making a decision.

Despite his reputation for being a “conservative Democrat,” Jim Webb voted as a party-line progressive Democrat and Harry Reid loyalist while he was in the Senate, “independent only by the partisan standards of today’s Congress,” according to the National Interest’s Jim Antle III.