Last week, “No Labels,” the centrist group seeking to field a “unity ticket” for the presidential election, announced that despite raising $70 million and securing ballot access in key states, they had failed to secure a candidate and would drop their effort for the 2024 cycle. This news elicited sighs of relief all over Washington, including at Third Way, a center-left think tank. Kate deGruyter is communications director at Third Way, and she argues that any third-party candidate in this race disproportionately hurts Joe Biden by muddying the otherwise clear choice between Biden and former president Donald Trump.

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The Assignment: Why Don’t Third Parties Work?