Taušanović was a prominent member of the People's Radical Party, among its founding members and one of the closest collaborators of its leader Nikola Pašić.
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In the mid-1890s, he distanced himself from Pašić and formed a separate faction within the National Radical Party.
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He was again in trouble with the authorities due to his Radical affiliation after the assassination attempt against ex-King Milan Obrenović (1889), as well as during the so-called Čebinac affair (1894).
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Besides being a deputy in the Serbian parliament, Taušanović was, after the abdication of King Milan Obrenović, a Minister in several governments (Minister of Interior 1889-1891 in Grujić’s cabinet, Minister of Economy 1891-1892 in Pašić’s Cabinet), and founder of the first insurance company in Serbia, as well as the Serbian Lottery (Srpska Lutrija) and the Serbian Shipping Company (Srpsko Brodarsko Drustvo).
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