Business Journal Daily reports that Traficant told a business networking group in Youngstown, Ohio yesterday that "I'm going to run for Congress." He said he isn't sure which district he will seek or whether he will run as a Democrat, Republican, independent or something else.
Traficant was expelled from the House in 2002, following his conviction, and served seven years in federal prison.
He reportedly acknowledged Tuesday that he "won't have much money" for a run, though he said he "never raised a lot of money" in past campaigns.
Traficant also said a far-right group called the American Free Press wants him to run for president as an independent. He is planning to speak to the group in February, if he is allowed to travel under the terms of his parole.
Traficant's old seat is currently occupied by Democratic Rep. Tim Ryan, who had been one of his aides.
In his comments, Traficant reportedly complained about the "communist" tax code and said he doesn't like "this bashing of the rich."
"I'm a capitalist," he said. "I don't like an economy that rewards dependency, penalizes achievement, subsidizes illegitimacy and chases jobs overseas."
He also said his conviction was politically motivated and that he is "a very bitter guy" who is seeking revenge against the "suckers" who helped put him in prison.