Hovde launches US Senate campaign, setting up reelection fight for Baldwin
MADISON, Wis. (CBS 58) -- Republican businessman Eric Hovde officially launched his campaign for U.S. Senate with an event Tuesday, Feb. 20 in Madison. Hovde became the first Republican to formally challenge Sen. Tammy Baldwin, who is seeking re-election this fall for a third term in the U.S. Senate.
Earlier in the day, Hovde released a video ad, posting it online. Hovde, who scheduled his campaign launch and one of his building developments in Madison, said in the 30-second spot he was running because he wanted to help find "common sense solutions" to a series of problems he maintained were plaguing the nation.
"Our economy, our health care, crime and open borders. Everything is going in the wrong direction," Hovde said in the 30-second spot.
Democrats made clear they will brand the Republican challenger as an out-of-touch "California bank owner." They also noted Hovde never mentioned Wisconsin in the video.
Hovde, who grew up in Madison, is the CEO of Sunwest Bank, which was founded in California but later moved its headquarters to Utah. The website also notes Hovde oversees private equity and asset management firms in his name.
During his campaign kickoff event, which took place Tuesday afternoon a building Hovde developed near the Capitol Sqaure, Hovde listed three areas where he felt the country was currently failing: the economy, crime and border security.
Hovde did not offer any specific policy ideas for addressing those issues during his speech, and he did not take questions from reporters afterward.
On the economy, Hovde said his experience in the financial world is much needed on Capitol Hill.
"Politicians, in large part, don't understand how an economy works," Hovde said. "And certainly not our modern financial economy. We need economic competency brought to Washington, D.C."
Baldwin was in Janesville Tuesday for the groundbreaking of a new arena and convention center. Afterward, Baldwin repeated the criticism of Hovde's West Coast ties while talking to reporters.
"[Senate Minority Leader] Mitch McConnell got his best recruit," Baldwin said. "California bank owner, multimillionaire is going to enter the race, and seems to be the playbook these days."
Hovde ran unsuccessfully for U.S. Senate in 2012, losing the Republican primary to former Gov. Tommy Thompson. Baldwin defeated Thompson that fall to win her first term in the Senate.
Baldwin won reelection in 2018, beating GOP challenger and former state Senator Leah Vukmir by nearly 11 percentage points, a resounding margin in a state known for close elections.
Republicans believe Baldwin is more vulnerable this time around. A Marquette Law School poll released earlier this month found 45% of Wisconsin voters stating they had an unfavorable view of Baldwin while 42% said they had a favorable opinion.
Before taking on Baldwin, Hovde may have to survive a Republican primary. Franklin business owner Scott Mayer has indicated he is still weighing whether to mount a campaign. Former Milwaukee County Sheriff David Clarke, who's developed a somewhat national following as an outspoken supporter of former President Donald Trump, is also considering getting in the race.
One challenge ahead for Hovde will be getting his name in front of more Wisconsinites. According to the February Marquette poll, 82% said they didn't know enough about Hovde to have an opinion of him, 7% said they had a favorable view, and 9% stated they had an unfavorable view of him.
Clarke had better name recognition. Eighteen said they viewed the former sheriff favorably while 17% held an unfavorable view. 65% said they didn't know enough about him to have an opinion. For Mayer, 4% had a favorable view compared to 7% who viewed him unfavorably. 88% said they didn't know enough about Mayer to have an opinion.
Hovde's homes in Central America
During his speech, Hovde referred to the human suffering that comes with migrants making long treks to the U.S.-Mexico border. He specifically noted concerns about children being trafficked and said his family was familiar with the issue because of properties it owns in Central America.
"Let me assure you more than a few [missing children] have ended up being sexually trafficked," Hovde said. "I know this all too well; my brother and I have homes all over the world, and we have three in Central America that deal with issues like this."
Hovde did not clarify in his speech that he was referring to the Hovde Foundation, but the organization's website lists three Central American "Hovde Homes" in Costa Rica, Guatemala and Honduras.