Elizabeth Warren is going all in with her presidential bid.
And the Massachusetts senator is donating millions of dollars in the form of a new super PAC that will pay for her campaign.
The super PAC, Our Revolution, will raise money to buy TV ads and other advertising, but the money will come in the same form as all other presidential campaigns, and the money won’t be tax-deductible for most Americans.
Instead, it will be taxed at a rate of 39.6 percent on income up to $5 million.
That rate applies to people making more than $250,000 a year and to people who have incomes of $200,000 or more.
It applies to the vast majority of Americans, but Warren will be paying a small percentage of that amount, a little more than half.
The group will raise at least $25 million, with a minimum of $20 million to cover the first $5.4 million in contributions.
Warren’s PAC, which has raised about $11.6 million so far, is expected to start spending next week.
Warren, who is running as the Democratic nominee for president, said the super PAC will be able to help fund her campaign without raising a single penny from the wealthy.
The money will also be used to pay off debt, she said.
Warren and Our Revolution say they plan to launch television and radio ads and to help raise more money through online advertising and through grassroots organizing.
Our Revolution’s first ad will air this week on CBS, according to a person familiar with the plans.
The ad, titled “Make America Great Again,” features Warren with her husband, Robert, and a line in the background saying “Make sure your family and friends know who Elizabeth Warren stands for.”
The line is an apparent nod to the criticism that Warren is too cozy with Wall Street.
The line also highlights how Warren has been a proponent of the Trans-Pacific Partnership trade agreement that would have sent millions of jobs overseas, including in China.
Warren has said she supports the trade deal, and she supports it more than any other candidate.
The ad will also feature footage of Warren speaking at the United Nations General Assembly in New York City in July.
It also includes clips of Warren praising the Affordable Care Act, which she says is the most progressive health care law in the world.
The Senate passed the health care bill last week and is expected in mid-October to vote on the measure, though it’s unclear if Warren will support the legislation in the Senate.
Other presidential candidates, including former Florida Gov.
Jeb Bush and Wisconsin Gov.
Scott Walker, also are using their super PACs.
Warren will likely use her PAC to expand her own campaign.
Our Revolution has been an aggressive force in the Democratic Party, raising more than a half-billion dollars, but has had difficulty raising money from traditional donors.
She will be relying on the support of small donors and the growing numbers of young voters, according a senior Democratic strategist familiar with her plans.
This is one of the reasons why our campaign has focused on building our grass-roots organization,” said the strategist, who spoke on the condition of anonymity to discuss a fundraising plan.