Presidential contender and former Virginia Sen. Jim Webb is said to be dropping from the 2016 Democratic presidential race.

Webb is said to have been losing faith in both the Democratic Party and the Republican Party, and how they are manipulated by money that runs the campaigns. He will be having a conference today at 1 p.m. ET, Fox News reported.

Webb might consider running independently, but this will not be clarified during his conference at the National Press Club in Washington. During the conference he is expected to "discuss his candidacy, the campaign and his views of the political parties in the current election cycle," according to USA Today. 

Webb is thought to be considering running as an independent, but as of now, there are no expectations for the announcement of such a campaign just yet. He will most likely take some time to mull the decision over before making an official announcement, Fox News added. 

Webb was not pleased with how the Democratic debate went last week and noted how Anderson Cooper of CNN did not ask him questions as frequently as the other candidates. 

"It was rigged in terms of who was going to get time on the floor," Webb said at the Council on Foreign Relations forum, according to the New York Times. "It's very difficult to win a debate if you don't get the opportunity to speak."