Former Governor of Alaska Sarah Palin smiles as she arrives at the embassy of Italy for an MSNBC after-party following the annual White House Correspondents' Association dinner in Washington May 1, 2011. (JONATHAN ERNST/REUTERS)

The copy of the letter sent to The Fix came from South Carolina, and SarahPAC Treasurer Tim Crawford said that about 400,000 solicitations were sent out nationwide. While the mailing, which aims to raise contributions for Sarah PAC, says nothing specific about Palin’s own political future the decision to send it will surely raise eyebrows.

“Taking back control of the House last year was only the first step,” Palin writes in the mailer. “Now you and I must fix our eyes on 2012. Our goal is to take back the White House and the Senate.”

Polls of late have shown Palin to be slipping somewhat in popularity among Republicans, and she has faded from the national spotlight in recent months.

Still, if she were to get in the presidential race, it would shake up a field that has just started to settle down. That’s especially true in the wake of former Arkansas governor Mike Huckabe e’s decision not to run in 2012, a move that will almost certainly free up a considerable number of social conservative voters.

Palin remains highly regarded among those voters and her popularity has eroded far less in that critical voting bloc than among Republicans more generally.

Even if Palin doesn’t ultimately run, her continued fundraising for the PAC suggests she is planning to play an active role in the 2012 election.

At the end of 2010, Sarah PAC had $1.3 million on hand after raising $3.2 million during the election cycle. Last month, the PAC’s website was redesigned to encourage more interaction with Palin herself.