Watch CBSN Live

'No Confidence' Vote Likely On Bachus As Ranking GOPer On Financial Services

Rep. Spencer Bachus (R-Ala.) will likely face a "no confidence" vote within the GOP Steering Committee on whether he should remain as ranking member on the Financial Services Committee, meaning that another GOP lawmaker could take over for him, according to Republican sources.

Several other Republicans have been mentioned as possible replacements for Bachus, including Reps. David Dreier (Calif.) and Steven LaTourette (Ohio), but neither has been interviewed by the Steering Committee on whether they want the job.

A "no confidence" vote on Bachus could take place today or Wednesday, said GOP insiders, who predicted it was "very probable" that it would take place.

Bachus was widely criticized by House Republicans over his involvement in the $700 billion Wall Street bailout package in late September. Rep. Roy Blunt, then Minority Whip, eventually replaced Bachus at the negotiating table.

Rep. Don Young (R-Alaska) , ranking member on the Natural Resources Committee, may also face a challenge for his spot, said GOP sources. Young has been embroiled in a federal corruption probe in Alaska that toppled Sen. Ted Stevens (R-Alaska), and has to shell out more than $1 million on lawyers to represent him during the probe. Young has denied any wrongdoing.

But having Young as the top Republican on Natural Resources would make it difficult for Republican leaders to challenge Democrats on keeping embattled Rep. Charlie Rangel (D-N.Y.) as chairman of the Ways and Means Committee.

Young is also seen as an "old school" politician more interested in winning pork projects than enacting the reform agenda that many Republicans believe the party needs to embrace in order to rebound from two consecutive election defeats.

View CBS News In
CBS News App Open
Chrome Safari Continue