Bentsen, Lloyd Millard, Jr. (1921-2006), was United States secretary of the treasury from 1993 to 1994 under President Bill Clinton. Before he was appointed to the post, Bentsen had represented Texas in the U.S. Senate since 1971. In addition, Bentsen was the Democratic nominee for vice president of the United States in 1988. He and his presidential running mate, Governor Michael S. Dukakis of Massachusetts, were defeated by their Republican opponents, Vice President George H. W. Bush and Senator Dan Quayle of Indiana.
Bentsen was born on Feb. 11, 1921, in Mission, Texas. He received a law degree from the University of Texas at Austin in 1942. From 1942 to 1945, during World War II, Bentsen served in the Army Air Forces in Europe. He was shot down twice and received the Distinguished Flying Cross for heroism. In 1943, Bentsen married Beryl Ann Longino. They had three children.
Bentsen was elected to the U.S. House of Representatives in 1948. He was reelected in 1950 and 1952. Bentsen chose not to run for a fourth term. In 1955, with his family’s financial assistance, Bentsen became president and chief executive officer of an insurance company in Houston. Bentsen expanded the business into a profitable holding company and became a millionaire.
Bentsen returned to politics in 1970. That year, he won election to the U.S. Senate, defeating Republican George H. W. Bush. Bentsen helped write the Employee Retirement Income Security Act of 1974. This law established minimum federal standards for the financing and operation of private pension plans. In 1987, Bentsen became chairman of the powerful Senate Finance Committee. Bentsen died on May 23, 2006.
