Libertarian ticket will get super-PAC support
© Getty Images

Cato Institute co-founder Ed Crane told Politico Sunday he’ll revive the PurplePAC to support the Libertarian Party’s presidential ticket. 

The announcement from the former president of the libertarian think tank came on the same day the Libertarian Party nominated its ticket for the 2016 election, with former New Mexico Gov. Gary Johnson at the top and former Massachusetts Gov. Bill Weld as his running mate.

“We could raise millions and I think it’s a very unique opportunity that you have have two major party candidates who are incredibly unpopular within their own parties,” Crane told Politico. “It won’t take me long because I’ve got the numbers of all the major hitters on the libertarian side.”

Crane ran the super-PAC to support Sen. Rand PaulRandal (Rand) Howard PaulLexington mayor launches bid for Congress Trump-free Kennedy Center Honors avoids politics Meet the Iran hawk who could be Trump's next secretary of State MORE until September 2015, when he reportedly called Paul's campaign a "futile crusade" and accused the Kentucky senator of abandoning his libertarian principles.

At the time, he said he would sit on the roughly $1 million in the PurplePAC account. Most of that money came from a single donor, Philadelphia trader Jeffrey Yass.