Kentucky Sen. Rand Paul (R) on Tuesday formally announced he will seek reelection to the United States Senate in 2016, launching a complicated bid for a second term that may be waged alongside a presidential campaign the same year.

"I have sought to work with any and all who are eager to find solutions and promote reforms. I stand with Kentucky in this fight, and I hope to continue together in the task of repairing and revitalizing our great nation," Paul said in a statement announcing his intention to seek another term in the upper chamber.

Paul is considering a presidential bid in 2016 and is reportedly already in the early stages of building a campaign infrastructure for a potential run. But a Kentucky law that prevents him from running for both offices at the same time still stands as an obstacle for the outspoken Republican.

It remains unclear how Paul will work around the law, but his legal and political teams are reportedly mapping several potential solutions.