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On April 2, 2018, Canova announced that he would be withdrawing from the contest for the Democratic nomination and would instead be challenging Wasserman Schultz in the general election as an independent candidate. Canova received 4.9 percent of the vote in his second attempt to oust Wasserman Schultz.

On June 15, 2017, Canova announced that he was entering the primary for the 2018 Democratic nomination in Florida's 23rd congressional district.

At the June 15 press conference announcing Canova's candidacy, reporters questioned him about a video he had posted on his Facebook page in January 2017, in which he said that Seth Rich "may have been the WikiLeaks source of the leaked DNC emails. He was gunned down, assassinated under suspicious circumstances just days after publication of those leaked emails." When the reporters asked Canova whether he suspected the DNC was involved in Rich's death, he answered, "I have no idea. I wondered what the DNC under Wasserman Schultz was capable of, but I don’t know." He removed the Facebook post later that day.

While a professor at the University of New Mexico, Canova worked with Libertarian Republicans, including former New Mexico Governor and 2016 Libertarian Party presidential nominee Gary Johnson, to eliminate felony disenfranchisement.

After Canova lost the Democratic primary in 2016, he formed "Progress for All" to organize support for numerous issues, including the fight against the Sabal Trail Transmission Pipeline.

Canova challenged incumbent former Democratic National Committee chair, Representative Debbie Wasserman Schultz in the August 30, 2016 Florida Democratic Party's primary election. He focused on Wasserman Schultz's legislative record, which, according to Canova, includes blocking the SEC and IRS from disclosing corporate political spending (part of December 2015's omnibus spending bill), preventing the Consumer Financial Protection Bureau from regulating discrimination in auto lending, opposing its rules cracking down on payday lending, and supporting "fast track" authority for trade deals such as the Trans-Pacific Partnership.

The Florida Democratic party initially refused access to its voter database to the Canova campaign. Following complaints by the Florida Progressive Democratic Caucus and the Canova campaign, the Florida Democratic party leadership, in March 2016, reversed its position. However, Florida Democratic Party executive director Scott Arceneaux specified that the exception would only apply to the contest between Canova and Wasserman Schultz, because of "the truly unique factors." Canova commented, "I hate to be critical at a moment when I am thankful, but I think that is bad policy."

On May 21, 2016, Vermont Senator Bernie Sanders endorsed Canova telling CNN's Jake Tapper "Clearly, I favor [Wasserman Schultz's] opponent." Earlier in the year President Barack Obama had endorsed Wasserman Schultz. Wasserman Schultz was later endorsed by many members of the Democratic party including Hillary Clinton, Joe Biden, Nancy Pelosi, Representative John Lewis, and former Arizona Congresswoman Gabby Giffords, many of whom made fundraising and campaign appearances.

After WikiLeaks released leaked Democratic National Committee emails in July 2016, Canova stated that he had searched their database and found his name mentioned in about 70 emails. On August 8, 2016, Canova's campaign announced that they were filing a complaint with the Federal Election Commission, accusing Wasserman Schultz of "us[ing] her position with the DNC and the resources of the DNC to improperly benefit her congressional campaign."

In October 2011, he was appointed by U.S. Senator Bernie Sanders to an advisory committee on Federal Reserve reform. The committee's work focused on potential paths to restructuring the Fed and tightening rules on conflicts of interest. Canova vocally supported the efforts to pass the amendment to the 2009 Dodd-Frank bill authored by former Congressman Ron Paul, (R-TX) and Representative Alan Grayson, (D-FL) that would have mandated auditing of emergency spending by the Federal Reserve.

Canova accused Wasserman Schultz for taking corporate money, citing his large base of small-dollar donors. In a fundraising email the Wasserman-Schultz campaign argued that, despite Canova's many donors, "90% of his cash is flowing in from donors outside of Florida." Of the only 10% of his donations that come from within Florida, Canova was unable to disclose what fraction came from within the 23rd District.

In the 1980s, Canova served as an aide to U.S. Senator Paul Tsongas. In 1995, he became the executive director of the National Jobs for All Coalition. During the 1990s, he criticized the policies of the Federal Reserve Bank under Alan Greenspan, warning that "corporate earnings could fall too far to sustain the current stock prices" and lead to an economic bubble-burst.

Timothy A. "Tim" Canova (born May 17, 1960) is an American politician and law professor specializing in banking and finance. Canova sought to represent Florida's 23rd congressional district, challenging then-Democratic National Committee chair, Representative Debbie Wasserman Schultz, in the August 30, 2016, Florida Democratic Party primary election. On June 15, 2017, Canova confirmed that he would again challenge Wasserman-Schultz in the 2018 Democratic Primary. On April 2, 2018, he announced that he would instead be challenging her in the general election as an independent candidate. Canova received 4.9 percent of the vote in his second attempt to oust Wasserman Schultz.