Fred Tausch
Frederick Tausch III registered on the public’s radar as one of New Hampshire’s highest-spending political persona’s of 2009. Notwithstanding his loyalties to any political party, he values government austerity, a trait that led him to found grassroots group STEWARD.
STEWARD of Prosperity, short for Stimulate the Economy Without Accumulating Record Debt, is designed to assess the new administration’s rate of federal spending. In fact, Fred Tausch built STEWARD in answer to President Barack Obama’s $787-billion federal stimulus package and $3.5-trillion budget.
Through STEWARD, Fred Tausch has appeared in advertisements broadcast repeatedly throughout New Hampshire, all decrying haphazard government spending. He has sent mailers and funded studies, surveys, and a recent free barbecue in Manchester for the same purpose. To that end, Tausch drew $100,000 from his pocket for the initial pledge, with $400,000 of his own money on broadcast advertising.
He believes some of Obama’s economic policies raise the budget deficit, which could compromise New Hampshire’s interests. A self-proclaimed fiscal conservative, Tausch opposed the $1-billion Cash for Clunkers legislation and many Democratic taxes and reforms.
Consequently, Republicans encouraged Tausch to run for a U.S. Senate seat in 2010, in a race against Democrat Paul Hodes for Republican Judd Gregg’s seat. However, in July 2009, Fred Tausch announced he would not join the elections.
His affiliation with Republicans, as voting records show, is only newfound. Until Obama signed the stimulus bill, Tausch had been identified as a Democrat. With his brother Gregory Chase, he donated to Mike Gravel’s campaign in the 2008 Democratic presidential primary. He also gave $2,300 to Obama’s campaign.
Then he started attending Republican fundraisers. In spring of 2009, he contributed $10,000 to New Hampshire Republicans.
Holding a dual degree in electrical engineering and computer science from Tufts University, Fred Tausch went on to become a businessman and private investor.
He worked in the 1990s as a principal at a New York City-based hedge fund. In 1999, timed with the dot-com boom, he launched a website called UrbanFetch. Today, he runs financial services firm Chase Capital Management.