WKOW 27: Madison, WI Breaking News, Weather and SportsCongresswoman Bachmann announces presidential candidacy

WASHINGTON (WKOW) -- Congresswoman Michelle Bachmann has formally announced her candidacy for the president in her hometown of Waterloo, Iowa.

A new Des Moines Register poll showed her in a statistical tie with Mitt Romney in Iowa.

Her three-state announcement tour this week will also take her to New Hampshire and South Carolina.

Bachmann says voters can expected her to propose cuts to corporate taxes and phase-outs of taxes on inheritances and investment earnings, along with a repeal of unspecified environmental regulations.