Democratic Senator Blanche Lincoln may face a challenge next year for the seat she holds. Two Republicans say they are looking to enter the race. Lincoln is preparing to run for her second six-year term. Republican State Senator Jim Holt of Springdale says that he will make a formal announcement by January first saying that he will enter the race. And former Maumelle city councilman Tom Formicola of Little Rock has filed with the Federal Election Commission to form an exploratory committee. The state`s Republican Party had hoped for a high-profile nominee to challenge Lincoln, such as Governor Huckabee or Lieutenant Governor Rockefeller. However, both of say they`ll stay out of the Senate race. Formicola says he will decide by early December if he`ll run.