(The Center Square) – President Joe Biden announced early Tuesday that he is running for reelection.

"Every generation has a moment where they have had to stand up for democracy. To stand up for their fundamental freedoms," Biden wrote on Twitter in his announcement. "I believe this is ours. That’s why I’m running for reelection as President of the United States. Join us. Let’s finish the job."

Biden made a request for donations in his announcement, which may set the stage for the next presidential race. So far, no major Democratic candidates have announced a primary challenge against Biden.

Biden is 80 years old, would be 82 should he be elected and would be 86 if serving out a full second term.

On the Republican side, former President Donald Trump has announced and is considered the front runner.

Other Republicans who have announced they are running include radio host and commentator Larry Elder, former South Carolina Gov. Nikki Haley, and businessman Vivek Ramaswamy. Former Arkansas Gov. Asa Hutchinson on April 2 told ABC News he will run and plans to formally announce this month, which ends Sunday.

Sen. Tim Scott, R-S.C., and Florida Gov. Ron DeSantis are also being closely watched for a potential upcoming announcement. Scott publicly launched an exploratory committee earlier this month.