US Presidential Election: Republican candidate Rand Paul suspends 2016 White House bid

 
James Nickerson
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Paul finished fifth in the Iowa caucuses (Source: Getty)

Republican candidate Rand Paul has officially suspended his campaign to become the next President of the United States, according to reports.

The Kentucky senator finished in fifth place in the Iowa caucuses, just two days ago, with just 4.5 per cent of the vote.

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"It's been an incredible honour to run a principled campaign for the White House. Today, I will end where I began, ready and willing to fight for the cause of Liberty," Reuters reported Paul to have said in a statement.

The move comes after Ted Cruz won the caucus, beating Donald Trump for Republican candidacy.

Cruz won 28 per cent of the vote in last night's primary, while Trump - who has in the past called Iowans "stupid" - took just 24 per cent. Marco Rubio secured a better-than-expected 23 per cent, putting him in good stead for next week's New Hampshire vote.

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