Nathan Stubbs

Boustany to inherit McCrery's leadership PAC

by Nathan Stubbs

Second-term Congressman Charles Boustany’s stock is on the rise with the pending departure of the state’s two more senior Republican Congressmen. Both Richard Baker of Baton Rouge and Jim McCrery of Shreveport are stepping down from their Congressional seats this year to move into private sector jobs. Today, The Shreveport Times reports that McCrery plans to bestow his leadership Political Action Committee (PAC), called the Committee for the Preservation of Capitalism, to Boustany. Leadership PACs are set up by senior congressmen to both raise money and then filter funds to other congressional colleagues and organizations, helping the congressman to boost his stature in party ranks. “I’m going to make [Boustany] as senior as he can be,” McCrery told The Times. “It will give him a head start at leadership.”

According to reports from the Federal Elections Commission, The Committee for the Preservation of Capitalism raised about $624,000 and spent about $616,000 in 2007. It currently has approximately $368,000 funds on hand. Its contributions have come from a wide variety of industry lobbying groups, withsome of the heaviest donations coming in from drug manufacturers as well as physician and other medical industry groups. Click here for a complete list of industry committees and individual donors, as well as candidate contributions made by the committee.