(CNN) – Rep. Michele Bachmann had a big announcement to make Friday.
Speaking at the annual Faith and Freedom Conference in Washington, the Minnesota Republican teased the crowd of conservatives with a joke about her political future.
"I just recently announced that I wouldn't be seeking a fifth term in the United States House of Representatives, but I do have a very important announcement that I would like to make to each one of you today," she began.
"It is this: I do intend to run for president," she said, pausing for loud cheers from the crowd. But she had an addendum: "…of the Tim Tebow fan club."
"I had you going there for a minute didn't I? But you never know. You never know so hold onto your hat," she continued.
Bachmann, who's in her fourth term representing Minnesota's 6th Congressional District, announced in May she wouldn't seek re-election in 2014. But she said at the time she had no plans to fade from public view.
"Looking forward, after the completion of my term, my future is full, it is limitless, and my passions for America will remain," she announced.
Bachmann made a bid for the 2012 GOP presidential nomination, eventually dropping out after the Iowa caucuses.
Bachmann used much of her speech to discuss the contentious issue of immigration reform. In her remarks, Bachmann said that "this is not an anti-immigrant speech. Do not walk away with that thought at all," but then went onto to criticize the bill that's backed by a bipartisan group of eight senators, saying the legislation would not secure the borders.
Talking about the bill, Bachmann said "amnesty will cost us a fortune."
And she added that "the estimate is that the average illegal alien that comes into the United States, the average age is 34 years old. The average education level is about the 10th grade. That's not to demean anyone who comes into the United States for a lack of education. But it isn't prudent to think that if you are 34 years of age with a 10th grade education or less, it's tough to believe that a person will be paying more in in taxes than they'll be receiving in benefits. And so what I am saying is that we need to be open to recognize what the cost is."