For years, hopeful reformers have touted the promise of third parties as an antidote to our political polarization. But when so many of the issues that voters care about most — like abortion, or climate change, or guns — are also the most divisive, can any third party actually bring voters together under a big tent? Or will it just fracture the electorate further?

Today’s guests say it’s worth it to try. Andrew Yang and David Jolly are two of the co-founders of the Forward Party, a new political party focused on advancing election reform measures, including open primaries, independent redistricting commissions in every state and the widespread adoption of ranked choice voting. Yang is a former Democratic candidate for president and a former Democratic candidate for mayor of New York City. Jolly is a former Republican congressman and executive chairman of the Serve America Movement. Together, they joined Jane Coaston live onstage at the Texas Tribune Festival to discuss why they’ve built a party and not a nonprofit, what kinds of candidates they want to see run under their banner and what Democrats are getting wrong in their midterm strategy right now.

(A full transcript of the episode will be available midday on the Times website.)