Source: Bachmann to Launch Presidential Bid

MINNEAPOLIS - Conservative Republican Michele Bachmann will officially launch her presidential bid in Iowa on Monday, a source close to her campaign said on Tuesday.

The US representative from Minnesota, who announced her intention to run at a Republican debate in New Hampshire last week, will hold a kick-off event Monday in Waterloo, Iowa, where she was born, the source told Reuters.

Bachmann, 55, is founder and head of the House Tea Party Caucus. She was one of the first elected officials to court the movement that helped fuel Republican gains in the 2010 midterm elections with calls for spending cuts and reduced government.