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Perot had run for President as an independent candidate in 1992 and got 19% of the popular vote. Perot's main issues were a [[balanced budget]], paying down the [[national debt]], enacting [[term limits]] and [[campaign finance reform]], and opposition to [[free trade]] agreements such as [[NAFTA]]. Following his 1992 run, he founded the organization [[United We Stand America]] to continue lobbying on these issues. In 1995 he founded the Reform Party in preparation for another run for the Presidency in 1996.

Perot at first didn't announce he was running and instead called for other contenders to seek the Reform Party nomination, but when former [[Colorado]] governor [[Richard Lamm]] actually did so, Perot opposed him. There was some bad blood during the primary process for the party's nomination when Lamm supporters claimed they didn't receive ballots. Perot won the primary and went on to win 8% of the popular vote in the 2006 Presidential vote, significantly less than his 1992 showing. Following the 1996 elections, a small group of Lamm supporters left to form the [[American Reform Party]], believing Perot had too much control over the Reform Party.

The 2000 primary season was marked by splits in the party. Two-time Republican primary hopeful [[Patrick Buchanan]] announced he was leaving the [[Republican Party]] to seek the Presidential nomination of the Reform Party. Ross Perot did not seek the 2000 nomination. Buchanan's main opponent in the 2000 Reform primaries was [[John Hagelin]], who had twice run for President on the [[Natural Law Party]] ticket, which advocated [[transcendental meditation]] (TM). Despite Hagelin's background in TM, opponents of Buchanan rallied around him as their best hope to stop Buchanan from winning the nomination. An unrelated split in the party occurred when a faction, including Jesse Ventura and term limits activist Jack Gargan, believed Perot had too much say over the party. Ventura's Minnesota chapter of the Reform Party left the party to become the Independence Party of Minnesota. Buchanan would go on to win the nomination at which point Hagelin's supporters walked out of the convention, held their own rump convention and named Hagelin the Reform Party nominee. The states recognized Buchanan as the legitimate nominee. Buchanan would win about 1/4 of 1% of the popular vote in the 2000 general election. Perot himself washed his hands of the Reform Party in 2000 and refused to endorse Buchanan.