According to reports, Senator Ted Cruz of Texas will announced on Monday that he is running for president. Cruz is scheduled to speak at Liberty University in Virginia, which was founded by Jerry Falwell. His senior advisors have told reporters that he will not form an exploratory committee like some of his rivals, but will be launching his bid right away. This would be him the first official Republican presidential candidate. According to his advisors, Cruz will try to raise $40 to $50 million over the primary period.