Sen. Tim Scott (R-S.C.) will launch a presidential exploratory committee on Wednesday, according to a source familiar, taking him one step closer to formally challenging former President Trump for the GOP nomination in 2024.

The launch comes as Scott makes stops in Iowa, New Hampshire, and South Carolina this week. Scott would be the highest-profile figure to jump into the GOP primary field since Nikki Haley, the former U.S. ambassador to the United Nations, announced her bid in February.  

The Post and Courier was the first to report on the committee.