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R E S O L U T I O N
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WHEREAS, The Honorable Phil Gramm rendered exceptional |
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service to residents of the Lone Star State throughout a tenure that |
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spanned nearly a quarter-century in the United States Congress; and |
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WHEREAS, A native of Fort Benning, Georgia, Phil Gramm began |
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his education at a very young age, learning to listen as his father |
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read him books on the Civil War, Eisenhower's Crusade in Europe, |
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H. G. Wells's Outline of History, and more, all before he entered |
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the first grade; and |
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WHEREAS, He graduated from the Georgia Military Academy in |
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1961 and went on to work his way through school, taking night and |
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correspondence courses, saving up hard-earned money, and relying on |
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the GI bill while earning a bachelor's degree in economics; |
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continuing his studies, he attended graduate school and, |
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remarkably, never took a single note while completing a doctorate |
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in economics from the University of Georgia; and |
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WHEREAS, Beginning his career in academia in 1967, he was a |
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professor of economics at Texas A&M University for more than a |
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decade, and during that time, he also founded the economic |
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consulting firm Gramm and Associates; in addition, his work was |
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frequently included in economic journals, and he published two |
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books, The Role of Government in a Free Society and The Economics of |
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Mineral Extraction; and |
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WHEREAS, Concerned about the negative effects he perceived |
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government and special interests were having on the economy, |
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Senator Gramm first entered public service in 1978; he was elected |
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as a Democrat to the U.S. House of Representatives by the voters of |
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the state's Sixth Congressional District, which stretched from the |
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Fort Worth suburbs to College Station, and he was returned to that |
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office again as a Democrat in 1980; during his time in the house, he |
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accumulated a very conservative voting record, even by Texas |
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Democratic standards of the day, tallying an average rating of 89 |
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from the American Conservative Union, and from 1980 to 1982, he |
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received the highest rating from that organization of any Democrat |
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in the Texas delegation; and |
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WHEREAS, In 1981, he cosponsored the Gramm-Latta Budget, |
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which implemented President Ronald Reagan's economic program, |
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increased military spending, cut other federal spending, and |
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mandated the Economic Recovery Tax Act of 1981, and as a result, he |
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was removed from the House Budget Committee; because he believed |
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that philosophical change in representation should be approved by |
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voters, he resigned, returned to his district, and ran as a |
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Republican for his vacant seat in a special election, the only |
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congressman ever to take such a step; with his win, he became the |
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first Republican to represent the district since its creation in |
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1846; his election successes continued in 1984 when he ran for the |
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U.S. Senate and won more votes than any other candidate for |
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statewide office had ever received in Texas history; he then served |
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in the senate for the next 18 years; and |
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WHEREAS, During his decades in Congress, Senator Gramm |
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compiled an impressive legislative record that also included such |
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landmark bills as the Gramm-Rudman Act, which reined in federal |
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spending, and the Gramm-Leach-Bliley Act, which allowed banks, |
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securities firms, and insurance companies to affiliate as part of a |
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financial services holding company; he further distinguished |
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himself as chair of the Senate Committee on Banking, Housing, and |
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Urban Affairs; in 1991, he was honored for his outstanding |
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achievements with the prestigious Horatio Alger Award; and |
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WHEREAS, After stepping down from his senate seat in 2002, |
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Senator Gramm subsequently served for nine years as vice chair of |
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UBS Investment Bank, where his leadership and financial expertise |
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were vital in initial public offerings for Visa, the Bank of China, |
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the China Merchants Bank, and LG Philips; he also played a crucial |
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role in the follow-on equity offering for the Industrial and |
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Commercial Bank of China, the privatization of Telstra in |
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Australia, and the acquisition of 20 percent of Turkey-based Akbank |
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by Citibank; today, he is vice chair of Lone Star Global |
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Acquisitions and a senior partner of US Policy Metrics, and he |
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additionally serves as a visiting scholar at the American |
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Enterprise Institute; and |
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WHEREAS, In all of his endeavors, this esteemed statesman is |
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blessed with the love and support of his wife, Dr. Wendy Lee Gramm, |
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and their two sons, Marshall and Jeff, and he takes tremendous pride |
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in his five grandchildren, Caroline, Will, Joshua, Gilbert, and |
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Benjamin; and |
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WHEREAS, Over the course of his exceptional career in this |
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nation's capital, Phil Gramm became an admired mentor to many young |
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people who were inspired by his dedication, his intellect, and his |
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belief in the boundless opportunities America has to offer, an |
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opinion that he so eloquently expressed with the following words: |
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"America is not a great and powerful country because the most |
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brilliant and talented people came to live here. America is great |
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and powerful because it was here that ordinary people like you and |
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me have had more opportunity and more freedom than any other people |
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who ever lived on the face of the earth"; and |
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WHEREAS, This state and nation have benefited immeasurably |
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from the vision, initiative, and outstanding contributions of Phil |
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Gramm, and the wide respect and admiration he enjoys from his fellow |
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citizens testify to the profound impact of his legacy; now, |
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therefore, be it |
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RESOLVED, That the House of Representatives of the 84th Texas |
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Legislature hereby commend the Honorable Phil Gramm for his |
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exemplary public service and extend to him warmest best wishes for |
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continued success and much happiness; and, be it further |
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RESOLVED, That an official copy of this resolution be |
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prepared for Senator Gramm as an expression of high regard by the |
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Texas House of Representatives. |
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Goldman |
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Anderson of Dallas |
Hernandez |
Phillips |
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Anderson of McLennan |
Herrero |
Pickett |
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Bonnen of Brazoria |
Johnson |
Rodriguez of Bexar |
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Bonnen of Galveston |
Kacal |
Rodriguez of Travis |
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Burkett |
Keffer |
Romero, Jr. |
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Burrows |
King of Hemphill |
Sanford |
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Button |
King of Parker |
Schaefer |
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Canales |
King of Taylor |
Schofield |
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Capriglione |
King of Uvalde |
Schubert |
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Craddick |
Landgraf |
Simpson |
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Cyrier |
Laubenberg |
Smithee |
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Davis of Dallas |
Lozano |
Stephenson |
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Davis of Harris |
Lucio III |
Stickland |
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Deshotel |
Márquez |
Thompson of Brazoria |
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Dukes |
Martinez |
Thompson of Harris |
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Dutton |
Martinez Fischer |
Tinderholt |
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Elkins |
McClendon |
Turner of Collin |
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Faircloth |
Metcalf |
Turner of Harris |
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Fallon |
Meyer |
Turner of Tarrant |
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Farney |
Miller of Comal |
Villalba |
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Farrar |
Miller of Fort Bend |
Vo |
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Flynn |
Morrison |
White of Bell |
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Frank |
Muñoz, Jr. |
White of Tyler |
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______________________________ |
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Speaker of the House |
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I certify that H.R. No. 2158 was adopted by the House on April |
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21, 2015, by a non-record vote. |
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______________________________ |
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Chief Clerk of the House |
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