House Majority Whip James Clyburn (D-S.C.) said Sunday that Democratic presidential candidate Tom Steyer Tom SteyerTV ads favored Biden 2-1 in past month Inslee calls Biden climate plan 'perfect for the moment' OVERNIGHT ENERGY: Trump administration finalizes plan to open up Alaska wildlife refuge to drilling | California finalizes fuel efficiency deal with five automakers, undercutting Trump | Democrats use vulnerable GOP senators to get rare win on environment MORE has been surging in recent South Carolina polls because the billionaire candidate is spending money on ad buys throughout the state.

"I've always said money is a mother's milk of politics," Clyburn said on CNN's "State of the Union," when asked about Steyer's rise.

"He has money and he has been spending it, I think that will always make a difference."

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Steyer, a billionaire philanthropist, did not perform in the top tier of the race in the first two nominating states, but he has staked much of his campaign on how he does in South Carolina.

Recent polling has shown Steyer in third place in the state, compared to support just above 1 percent nationally.

Similarly, Clyburn said on Sunday that former New York City Mayor Michael Bloomberg Michael BloombergTop Democratic super PAC launches Florida ad blitz after Bloomberg donation The Hill's 12:30 Report - Presented by Facebook - Latest with the COVID-19 relief bill negotiations The Memo: 2020 is all about winning Florida MORE, a billionaire self-funding his presidential campaign, has been able to rise in the race based on the money he's spending on his campaign.

"Where was Bloomberg nationally among voters a month ago? But he has money, he has been spending it, and he's changed the calculations," Clyburn said.

"For us to just pretend money doesn’t make a difference what would be fool hearted," he added. "Money makes difference. Steyer has it he's been spending and he's reaping the rewards."

Clyburn has said he will not publicly endorse a candidate before the South Carolina debate, which will be held days ahead of the Feb. 29 primary.

He said his decision will not be based on who he thinks will win in this state, but rather whom he supports.

"I would never pass my support upon whether or not I think that person would win the state," Clyburn said.