Gramm, Phil (1942-…), was a member of the United States Senate from 1985 to 2002. Gramm, a Republican, represented Texas. During his Senate career, Gramm, a conservative, supported reduced federal spending on welfare and other social programs and strict limits on taxation. He ran for the Republican nomination for president in 1996 but attracted little support in primary elections. He did not seek reelection to the Senate in 2002. Gramm resigned from office at the end of November 2002 instead of waiting until his term ended in January 2003, saying that he wanted to give his successor, John Cornyn, a head start in the Senate.
Gramm was born on July 8, 1942, in Fort Benning (now Fort Moore), Georgia. His full name is William Philip Gramm. Gramm earned a Ph.D. in economics from the University of Georgia in 1967. From 1967 to 1978, he taught economics at Texas A&M University. Gramm won election to the U.S. House of Representatives as a Democrat in 1978. In 1983, he resigned his seat, switched parties, and won reelection as a Republican. Gramm was elected to his first term in the Senate in 1984, and he took office in 1985. After leaving the Senate, Gramm became vice chairman of UBS Warburg (now UBS Securities LLC), an investment bank.
