Neugebauer thinks Bachus will chair Financial Services

Bachus is currently competing with Rep. Ed Royce (Calif.) for the chairmanship of the committee. The two congressmen made their pitches Tuesday to the House Republican Steering Committee, and a decision is expected to come sometime early next week.

Neugebauer praised Bachus as a leader who knows how to delegate responsibility to lower-ranking members on the committee.

"He has been ... very empowering for committee ranking members, letting them run a lot of stuff in committee," Neugebauer said of Bachus. "He’s a delegator, but he’s also very team-oriented."

Neugebauer also said he would be open to blocking funding for agencies lawmakers believe are not acting appropriately. Some have speculated the GOP would use the funding mechanism to slow or block the implementation of controversial aspects of legislation passed by Democrats, like healthcare reform and the Dodd-Frank Wall Street reform.

"We need to put those agencies where they are accountable," he said. "One of the ways that Congress can have some impact over the executive branch is obviously with the checkbook, and that tends to be a fairly effective tool."