From 1978 to 1987, Wallace worked at
Troy University in
Troy, Alabama. He was the director of financial aid and alumni affairs from 1978 to 1982. From 1983 to 1987, he was vice president of development and alumni affairs. During part of the time he was at Troy, the faculty included
Max Rafferty, former
California Superintendent of Public Instruction, and former Governor
John Malcolm Patterson, an intraparty opponent of both of his parents. In 1986, Wallace was elected Alabama State Treasurer, narrowly winning the
Democratic Party primary and
runoff over
Jim Zeigler and facing no opposition in the general election. He was easily reelected in 1990. In 1992, midway through his second term, Wallace ran for the
U.S. House of Representatives in , his family's home district, to succeed retiring 28-year
Republican incumbent
Bill Dickinson. He narrowly missed avoiding a runoff in the primary, but prevailed over state welfare commissioner Faye Baggiano, who had nearly toppled Dickinson in the 1990 election. The district had been made more Republican on paper after most of its
African-American constituents had been drawn into the black-majority
7th district after the
1990 census in accordance with the
Voting Rights Act of 1965. However, Wallace's chances got a significant boost after his expected Republican opponent,
State Senator Larry Dixon, lost his primary to
Terry Everett, a newspaper publisher from the
Wiregrass who had never run for office before. In November, Wallace lost the election in an upset to Everett by just 3,571 votes, less than 1 percent. In 1994, while wrapping up his second term as state treasurer, Wallace ran for
lieutenant governor, but finished third to
Don Siegelman and
Ryan DeGraffenried Jr. (DeGraffenried's father,
Ryan DeGraffenried Sr., was defeated in the 1962 Democratic gubernatorial runoff by Wallace's father). After leaving the treasurer's office, Wallace worked at the Center for Government and Public Affairs at
Auburn University Montgomery. In 1998, he switched affiliations to the
GOP and was elected in 1998 to the
Alabama Public Service Commission (Position 2), having defeated incumbent Democrat Charles B. Martin. He was reelected commissioner in 2002 but did not run again in 2006, when the Republicans nominated former state Representative
Perry O. Hooper Jr., of Montgomery. Hooper defeated former state Senator
John Amari of
Trussville in the Republican primary but then lost the general election to Democrat
Susan Parker. In June 2005 he opened up the first day of the annual national convention of the
Council of Conservative Citizens (CofCC), a white nationalist organization. This was not Wallace's first interaction with the CofCC; he gave speeches to the CofCC once in 1998 and twice in 1999. He has also appeared as a guest on
The Political Cesspool, a radio talk show that is affiliated with the Tennessee chapter of the CofCC. Wallace instead sought in 2006 the Republican nomination for lieutenant governor and entered a runoff election with
Birmingham attorney
Luther Strange. Wallace lost by ten points despite appearances on his behalf from
U.S. Senator John McCain of
Arizona. Strange, in turn, lost the general election to Democratic nominee
Jim Folsom Jr. of
Cullman, a son of former Governor
Jim Folsom who had previously served as both lieutenant governor and governor. In 2010, Wallace ran in the Republican primary to reclaim his old office of state treasurer, but lost the nomination to banker
Young Boozer by nearly thirty points. ==References==