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WASHINGTON – Sen. Evan Bayh. D-Ind., begins the run-up to his re-election with nearly $11 million on hand and the likelihood of raising millions more. It's the kind of bank balance that makes any potential opponent swallow hard before signing up to run.
Bayh hasn't announced plans to seek another six-year term in 2010, but the political world assumes he will.
And if he does, Bayh's campaign will have a solid financial start on anyone who challenges him in the Democratic primary or the Republican who opposes him.
"The money in the bank and his strong approval rating among Hoosiers is a challenge to anybody," said Dan Parker, chairman of the Indiana Democratic Party.
No Republican has announced plans to run against Bayh. A Chicago tax attorney said he's seriously considering the race and will decide next month.
Schererville resident Dan Dumezich, a former state representative from Lake County, said Bayh's $10.8 million doesn't intimidate him.
Any candidate who wants to be on a financial par with Bayh would have to start now and raise $124,663 a week before the Nov. 2, 2010, election - and that assumes Bayh doesn't raise another penny this year or next.
"We have all learned that money isn't everything in politics, but it sure beats not having it," said Kip Tew, former state Democratic Party chairman. "I think $11 million is a pretty big sum to overcome, and (I) will be surprised if a big-name Republican steps up to oppose him."
Dumezich was in the General Assembly from 1999 to 2002. He chose not to run for re-election to spend more time with his young children.
Bayh's last campaign in 2004 cost $2.7 million. The average successful Senate campaign last year cost $7.6 million, not counting the unresolved Minnesota race or the money the candidates gave to other candidates.
In addition to the Senate campaign's $10.9 million in the bank as of Dec. 31, Bayh has access to a political action committee he set up to grease a run for the 2008 Democratic presidential nomination.
Although Bayh gave up those plans, his All America PAC has $522,000 on hand.
Bayh can't use the All America PAC money for his re-election campaign, but he can use it to help other Democrats. PACs may contribute up to $5,000 an election (for a total of $10,000 for the primary and fall elections) to candidates.
Many members of Congress create PACs - called leadership PACs - to help establish themselves as Capitol Hill powerhouses and to collect political chits from the colleagues or newcomers they assist financially.
