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Kentucky Sen. Rand Paul announced Tuesday morning on his website that he will seek the presidency.
“I am running for president to return our country to the principles of liberty and limited government,” a quote attributed to Paul says on his site.
The Republican politician is scheduled to give an announcement midday Tuesday in Louisville, Kentucky.
Paul’s entrance into the GOP primary follows Texas Sen. Ted Cruz, who announced in March that he is running. The field is expected to be crowded, however, and candidates will be competing hard for constituencies ranging from the Christian right to traditional Wall Street Republicans.
The son of libertarian icon and former Texas congressman Ron Paul, the Kentucky Senator has worked to expand his appeal to a broader swath of the Republican Party.
The firebrand who wants to scale back the authority of the Federal Reserve has been quietly courting Wall Street donors. Paul, who mounted a 13-hour filibuster to call attention to the United States’ use of drones, recently proposed a boost to military spending.
And the 52-year-old former eye surgeon who harnessed the anti-establishment energy of the tea party movement has been raising money for fellow Republicans, at times upsetting the grass-roots activists who have made him a national figure.
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On many issues, Paul’s positions aren’t different from mainstream Republicans. He opposes Obamacare and abortion and favors cutting taxes and spending.
But his criticism of the Federal Reserve has spooked some in the party’s business-friendly wing, and his proposal to balance the federal budget within five years is dramatic even by the standards of the anti-spending Republican Party.
Paul starts the campaign in the second tier of GOP candidates, drawing the support of 8.4 percent of Republicans, according to a March Reuters/Ipsos tracking poll.
That puts him behind former Florida Gov. Jeb Bush, Wisconsin Gov. Scott Walker and former Arkansas Gov. Mike Huckabee, and in a statistical tie with four other candidates—Cruz, New Jersey Gov. Chris Christie, neurosurgeon Ben Carson and Florida Sen. Marco Rubio.
—Reuters contributed to this report.
Correction: This version corrects Marco Rubio’s title and the location of Paul’s scheduled announcement.