Rep. Spencer Bachus, R-Ala., is facing a challenge for the chairmanship of the House Financial Services Committee. The Birmingham News reports that Rep. Ed Royce, R-Calif., announced his wish to become the committee's chairman.
Bachus has been the ranking Republican member of the committee since January 2007. However, he recently created an internecine feud within his party with former Alaska Gov. Sarah Palin, in which he blamed her support of Tea Party candidates as causing Republicans to miss their chance in regaining control of the U.S. Senate. Palin publicly responded by criticizing Bachus' support of the $700 billion Troubled Asset Relief Program, which she defined as part of ‘the Bachus bigger government agenda.’
The decision on the chairmanship will be decided next month the party's steering committee. The new chairman will replace Rep. Barney Frank, D-Mass.
SOURCE: Birmingham News