Rep. Spencer Bachus was formally selected by the Republican Steering Committee on Tuesday to serve as chairman of the House Financial Services Committee next year, beating back a challenge from Rep. Ed Royce, R-Calif.
Bachus, who has served as the ranking Republican member for the past four years, had widely been expected to be tapped due to his seniority, popularity and fundraising tenacity.
Traditionally, the chairman slot goes to the most senior member of the party in power who does not have another leadership spot on another committee.
Bachus is one of the top fundraisers for the National Republican Congressional Committee, which is dedicated to electing Republicans to Congress. He also had bolstered support by vowing to enable his subcommittee chairmen to advance their agendas under his chairmanship, eliciting their backing and heading off other potential challengers for the committee gavel.
"I'll continue to give my subcommittee chairs a chance to lead on issues of their expertise," he said. "We're going to have an inclusive approach that includes all members of the committee," the Alabama Republican said in a recent interview.
