The Tea Party backed White House bid of Rep. Michele Bachmann was giving off steam in the summer of 2011, but went cold in January’s Iowa Caucuses. She quite the race after a distant sixth place showing. Rep. Michele Bachmann, R-Minn.: She founded the Tea Party Caucus in Congress. On the brink of retiring from Congress, Bachmann is speculating aloud about a 2016 run for President.