Phil Gramm Quotes

A collection of quotes by Phil Gramm.

Phil Gramm is an American economist and politician, born on July 8, 1942, in Columbus, Georgia. With a career spanning both academia and public service, Gramm served as a U.S. Senator for Texas from 1985 to 2002.

Gramm earned his Ph.D. in economics from the University of Georgia and later became a professor at Texas A&M University. During his time in academia, he gained recognition for his work on monetary policy and authored several publications on the subject.

In 1978, Gramm entered the political arena and was elected as a Democrat to the U.S. House of Representatives. However, in 1983, he switched his affiliation to the Republican Party. As a Congressman, he played a significant role in advocating for lower taxes and reduced government regulation.

In 1985, Gramm won a special election to replace retiring Senator John Tower, thus beginning his career in the Senate. He quickly established himself as a staunch conservative and became known for his fiscal conservatism and support for free-market policies.

During his tenure, Gramm was involved in various significant legislative efforts, including the passage of the Gramm-Rudman-Hollings Balanced Budget Act in 1985 and the Financial Services Modernization Act (also known as the Gramm-Leach-Bliley Act) in 1999. The latter legislation repealed portions of the Glass-Steagall Act and played a role in the subsequent deregulation of the financial industry.

Gramm retired from the Senate in 2002 and joined UBS, a Swiss multinational investment bank, as a vice chairman. He continued to be involved in economic research and writing, providing commentary on fiscal policy and advocating for free markets.