State House member Jay Swearingen told The Associated Press on Wednesday he has been unable to get the necessary support he needs for a run. He also pointed to fundraising and said that getting out now could create an opportunity for another candidate who could better finance a campaign.
The state auditor is the lone statewide office appearing on this November's ballot.
Swearingen is a two-term state House member from Kansas City. He announced plans last fall to run for auditor.
Schweich was elected auditor in 2010 after defeating the Democratic incumbent.