Congressional Power DeLays HisExit

WASHINGTON - (07/24/06)–Former House Majority Leader andcredit union champion Tom DeLay announced Friday he will liquidatehis powerful leadership PAC after it was fined $115,000 by theFederal Election Commission for a variety of disclosure violations.DeLay’s Americans for a Republican Majority–betterknown as ARMPAC–collected contributions from credit unions,banks and all kinds of Washington interests and used them tofinance other GOP candidates–to the tune of more than $3.5million in the last elections. CUNA, which built strong ties to theonce-powerful lawmaker, contributed $7,500 to ARMPAC, and another$20,000 to each of DeLay’s campaigns in the last twoelections, and the Republican leader helped keep the tax threat atbay and forced a final vote on the credit union-backed bankruptcyreform bill. But DeLay, who announced his retirement after hiscontroversial win in the GOP primary, said last week he may decideto run after all if a court ruling preventing the GOP fromreplacing him on the November ballot is ultimately upheld.Leadership PACs are used by lawmakers as a supplement to theirpersonal campaign funds to finance the funnel funds tocongressional allies and like causes. CUNA has contributed morethan $250,000 to ARMPAC and other leadership PACs in the currentelection cycle.