Sanders is the longest-serving independent member of the US Congress, and is one of very few potential candidates who have expressed an intent to run against current Democratic front-runner and former Secretary of State Hillary Clinton. Another potential challenger is Former Maryland Governor Martin O’Malley, who is expected to join the race next month.
A self-described socialist, Sanders is an advocate for tighter Wall Street regulation and for the creation of a more robust social safety net.
Sanders has been openly considering a bid for months and has visited early presidential primary states to test the waters for his campaign.
Following the statement on Thursday, Sanders is also expected to hold a campaign kickoff event in Vermont next month.