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US Senator Ted Cruz to announce presidential bid

US Republican Senator from Texas Ted Cruz addresses the annual Conservative Political Action Conference (CPAC) at National Harbor, Maryland, outside Washington,DC on February 26, 2015United States Senator and Tea Party favorite Ted Cruz is expected Monday to confirm plans to run for president in 2016, the Houston Chronicle reported. The Texas Republican will announce his presidential bid — as opposed to forming a preliminary exploratory committee — at a convocation ceremony at Liberty University in Virginia, according to senior advisors speaking to the newspaper. Cruz, 44, will be the first Republican to officially confirm plans to run in the next presidential election, though others, including Jeb Bush, have signaled they could join the race. The advisors told the newspaper that Cruz will aim to raise between $40 million and $50 million for his campaign, and will rely on support from his Tea Party base that voted him in as senator in 2012.

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