Sen. Rand Paul is looking to announce his presidential run on April 7, TheNew York Timesreported Tuesday, citing people close to him. The junior senator from Kentucky selected the date for the advantage of raising funds toward his campaign 10 months before the Iowa caucuses. The Federal Election Commission calendar marks April 1 as the beginning of a quarterly reporting period, giving Paul most of the quarter to raise money. Paul could also transfer cash from the $2.9 million he had in his Senate campaign account at the end of 2014. The presidential contender must still figure out how he can run for both president and senator at the same time—something that violates Kentucky’s state constitution—and will appeal to the Republican Party to hold a presidential caucus in May. Paul’s aides had no comment on Tuesday.