BIRMINGHAM, Ala. – An independent radio campaign by CUNA boosting Congressman Spencer Bachus in the prior three days helped the ten-term member of Congress and chairman of the House Financial Services Committee survive his toughest primary yesterday.
Bachus, head of the key committee over credit union and bank legislation, was facing a Tea Party-backed challenge from state Sen. Scott Beason and financial backing from an out-of-state Super PAC known as Campaign for Primary Accountability which was successful just last week in helping unseat Republican incumbent Jean Schmidt in an Ohio primary. Beason gained nationwide attention for sponsoring Alabama's toughest-in-the-nation law against illegal immigration.
Bachus, 64, won 59% of the vote in the four-person primary, allowing him to avoid a run-off if he failed to win 50%.
The primary win, which virtually guarantees a victory in the general election, came after Bachus was heavily criticized for his support of the bank bailout bill, known as TARP, and for allegations he profited from inside information learned during his work as a congressman.
The final days of the primary saw the major financial interests before the Financial Services Committee pour PAC contributions into the Bachus campaign, including Bank of America, US Bancorp, Citigroup, BB&T, Fifth Third Bancorp, American Bankers Association, Barclay’s Group, National Pawnbrokers Association ACE Cash, Discover Financial and others, but all of the contributions were of less than $2,500 and paled in comparison to the three-day radio campaign paid for by CUNA independently of the Bachus campaign.
“Congressman Bachus has an understanding of credit unions and has been a long time supporter,” said Richard Gose, chief campaign strategist for CUNA, in explaining the independent initiative.
Bachus has had an off-and-on relationship with credit unions during his congressional career. He was one of only a handful of House members to vote against HR 1151, the landmark 1998 CU Membership Access Act in the overwhelming 411-to-6 passage of the bill. But since then he has become a strong credit union supporter and helped to push several key legislative initiatives. His support in moving the proposed member business loan bill this year is critical.
CUNA spent $28,000 on the radio spots which blanketed the Birmingham and Tuscaloosa markets and part of Montgomery in the state’s Sixth District on Sunday, Monday and Tuesday.
The spots said nothing about credit unions, but “Spencer Bachus is standing up for us when it comes to reducing taxes, downsizing government and providing us more freedom. That’s why Spencer Bachus has earned a ninety two percent rating from the American Conservative Union. In fact, according to Spencer Bachus’s lifetime ratings with ACU, he is the most conservative member of the Alabama delegation…Spencer Bachus... he’s standing up for us.”
Under federal election rules independent expenditures such as this one cannot be coordinated with a candidate or the candidate's campaign. CUNA has spent far more on some previous independent expenditures but this one is important because of the role Bachus will play in any credit union legislature this year--like the member business loan bill--even as he has promised to step down as chairman of the Financial Services Committee next term if reelected.
