Plans are in motion for President Joe Biden to formally announce his bid for a second term as soon as next week, with a campaign-style video set to be released to definitively answer the question of whether he will run again and igniting an aggressive fundraising effort to help Democrats hold the White House.

Biden’s small circle of close-knit advisers and allies are preparing for a video announcement Tuesday that would coincide with the anniversary of Biden’s 2019 campaign announcement, according to four sources familiar with the matter.

Advisers inside and outside the White House caution that timing could still change, pending unforeseen events, but a decision has been reached that it is “no longer helpful or necessary to not just say the obvious: He’s running,” a senior Democratic official told CNN.

Both sentimental and fond of an anniversary, Biden has signed off on a plan to formalize his intentions as soon as Tuesday, four years after he stepped back into public service to launch his campaign in 2019.

The importance of the connection to the anniversary and the fact that it would come just days before the first major donor gathering next Friday have made the possibility increasingly likely, one of the people said.

This story is breaking and will be updated.

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