Dave McCormick, a former hedge fund manager and Gulf War veteran, launched his campaign for U.S. Senate in Pennsylvania on Thursday, setting the stage for a high-stakes showdown against incumbent Sen. Bob Casey (D). McCormick has received broad support from prominent Republicans and the Pennsylvania Republican Party, while Casey has been in office since 2007 and is the chairman of the Senate Agriculture Committee. The race between the two candidates is expected to be close and could have a major impact on the balance of power in the Senate.