January 2003. He was re-elected for a second term in 2004 by earning 65% of the vote. When he entered office in 2003, Cranston had the lowest bond rating in America and its city pension had only $9 million in assets and $250 million in liabilities. Laffey was criticized by many government workers during his term as mayor. His critics were mainly unions representing the city workers including the union representing the city crossing guards. He privatized the 39 crossing guard positions to save the city $800,000 per year. He also faced opposition from the firefighter's union and the school union. Laffey credits this to confronting unions and cutting excesses in school spending. In 2006, Laffey distinguished Cranston by making it the only Rhode Island city to cut property taxes that year. He was also one of the first mayors in the United States to introduce health savings accounts. Laffey was the host of his own radio show in 2005 on WPRO in Rhode Island. The Steve Laffey Show came under attack when he was accused of using free airtime to obtain name recognition. The Board of Elections ruled unanimously that the free airtime and name recognition amounted to political contributions in excess of $1,000, a violation of state law. The show ran on Fridays and Laffey was not paid for hosting the show; however, the Board of Elections ordered him to shut down the show. Laffey then filed a lawsuit against the Board citing violation of his 1st Amendment rights and for treating him differently than other politicians. The 1st Circuit Court of Appeals gave the Board time to reconsider their action and consult with the Rhode Island Supreme Court on the issue. After the decision, the Board allowed Laffey to return to the air. 2006 United States Senate campaign On September 8, 2005, Laffey announced that he would be running for the United States Senate. He faced incumbent Republican Lincoln Chafee. Laffey ran as the populist/conservative alternative to Chafee, being anti-abortion, and supporting both the Central American Free Trade Agreement and Samuel Alito's appointment to the Supreme Court. Main points of Laffey's campaign include eliminating what he calls pork barrel spending, simplifying the tax code, and reducing prescription drug costs. He was considered the metabolic opposite of Chafee and was said to "enjoy populist tirades against corporate special interests (especially the oil companies)", favoring a robust alternative energy