Fred Thompson to Enter '08 Race

ABC News' Rick Klein Reports: Former GOP senator Fred Thompson, R-Tenn., is eying an early July launch for his presidential campaign, and plans to create a fund-raising entity June 4 to start raising the millions he will need for his presidential campaign.

A GOP source tells ABC News that Thompson told key fund-raisers yesterday to prepare to write checks in early June. That fund-raising entity – not an exploratory committee – can be established for 60 days, meaning Thompson will have to make a decision inside of that window.

Rep. Zach Wamp, R-Tenn., -- a key Thompson backer -- declined to confirm the timeline, but said, “Early June is certainly going to be an exciting time. And the 4th of July is certainly within those 60 days.�

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