Age, Biography and Wiki

Phil Gramm (William Philip Gramm) was born on 8 July, 1942 in Fort Benning, Georgia, U.S., is an American politician (born 1942). Discover Phil Gramm's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 82 years old?

Popular As William Philip Gramm
Occupation actor,producer
Age 82 years old
Zodiac Sign Cancer
Born 8 July 1942
Birthday 8 July
Birthplace Fort Benning, Georgia, U.S.
Nationality Georgia

We recommend you to check the complete list of Famous People born on 8 July. He is a member of famous Actor with the age 82 years old group.

Phil Gramm Height, Weight & Measurements

At 82 years old, Phil Gramm height not available right now. We will update Phil Gramm's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
Body Measurements Not Available
Eye Color Not Available
Hair Color Not Available

Who Is Phil Gramm's Wife?

His wife is Wendy Lee

Family
Parents Not Available
Wife Wendy Lee
Sibling Not Available
Children 2

Phil Gramm Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Phil Gramm worth at the age of 82 years old? Phil Gramm’s income source is mostly from being a successful Actor. He is from Georgia. We have estimated Phil Gramm's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income Actor

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Timeline

1846

Gramm became the first Republican to represent the district since its creation in 1846.

After he left the House, the seat was retained for the Republican Party by Joe Barton.

1942

William Philip Gramm (born July 8, 1942) is an American economist and politician who represented Texas in both chambers of Congress.

Gramm was born on July 8, 1942, in Fort Benning, Georgia, and grew up in nearby Columbus.

Soon after his birth, Gramm's father, Kenneth Marsh Gramm, a career Army sergeant, suffered a stroke and was partially paralyzed.

He died when Gramm was 14.

Gramm's mother, Florence (née Scroggins), worked double shifts as a nurse to supplement the veterans disability pension.

1961

Gramm attended public schools, graduated in 1961 from Georgia Military Academy (now Woodward Academy), and graduated in 1964 from the University of Georgia.

1967

He received a doctorate in economics from the University of Georgia's Terry College of Business in 1967.

Gramm taught economics at Texas A&M University from 1967 to 1978.

1971

In addition to teaching, Gramm founded the economic consulting firm Gramm and Associates (1971–1978).

1976

In 1976, Gramm unsuccessfully challenged Texas Democratic Senator Lloyd Bentsen, in the party's senatorial primary.

1978

Then in 1978 Gramm successfully ran as a Democrat for Representative from Texas's 6th congressional district, which stretched from the Fort Worth suburbs to College Station.

1980

He was reelected to his House seat as a Democrat in 1980.

Gramm's voting record was very conservative, even by Texas Democratic standards of the time.

During his first four terms, he tallied an average rating of 89 from the American Conservative Union, and from 1980 to 1982 he garnered the highest rating from that body of any Democrat in the Texas delegation.

1981

In 1981, he co-sponsored the Gramm-Latta Budget which implemented President Ronald Reagan's economic program, increased military spending, cut other spending, and mandated the Economic Recovery Tax Act of 1981 (the Kemp-Roth Tax Cut).

1982

Just days after being reelected in 1982, Gramm was thrown off the House Budget Committee.

1983

Though he began his political career as a Democrat, Gramm switched to the Republican Party in 1983.

In response, Gramm resigned his House seat on January 5, 1983.

He then ran as a Republican for his own vacancy in a February 12, 1983 special election, and won easily.

1984

In 1984, Gramm was elected as a Republican to represent Texas in the U.S. Senate.

He defeated Congressman Ron Paul, former gubernatorial nominee Henry Grover, Robert Mosbacher, Jr., of Houston, and several of other contenders in the primary.

He then faced the Democratic nominee, State Senator Lloyd Doggett of Austin in the general election for the right to succeed retiring Republican Senator John G. Tower.

Gramm polled 3,116,348 votes (58.5 percent) to Doggett's 2,207,557 (41.5 percent).

Gramm was the first U.S. Senate candidate in the history of Texas to receive more than three million votes.

1985

In October 1985, Gramm, Fritz Hollings, and Warren Rudman sponsored an amendment to establish a budget deficits ceiling that would decline to zero by 1991 that was attached to a bill raising the debt limit of the federal government by more than $250 billion.

The amendment was approved by a vote of 75 to 24 and was stated as a possible prelude to a balanced budget in five years without a tax increase by United States Secretary of the Treasury James Baker: "I think it's important that we recognize the Gramm-Rudman amendment is basically a process designed to give the legislative branch and in some degree the executive branch, the political will to deal with the deficit. It means it's going to force some action. Given the political will to make the hard choices you can reach balance without having to raise taxes."

1989

Gramm served on the Senate Budget Committee from 1989 until leaving office in 2002.

Gramm and Senators Fritz Hollings and Warren Rudman devised a means of cutting the budget through across-the-board spending cuts if deficit-reduction targets were not met.

They were successful in making the Gramm–Rudman–Hollings Act law, although portions were ruled unconstitutional.

In the years following the passage of the Act, other sections were largely superseded by other budget-controlling mechanisms.

1990

In 1990, Gramm failed in an effort to amend the Iraq International Law Compliance Act of 1990.

An earlier amendment to the act, the D'Amato Amendment, prohibited the US from selling arms or extending any sort of financial assistance to Iraq unless the President could prove Iraq was in "substantial compliance" with the provisions of a number of human rights conventions, including the Genocide Convention.

After reading the D'Amato Amendment, Gramm introduced his own amendment to counter the human rights sanctions in the D'Amato Amendment.

Gramm's amendment would have allowed the George Bush administration to waive the terms of the D'Amato Amendment if it found that sanctions against Iraq hurt US businesses and farms more than they hurt Iraq.

In the end, the bill passed the Senate without Gramm's amendment only a week before Saddam Hussein invaded Kuwait.

1991

One of his many special election opponents was the second-place finisher by only 115 votes in his 1978 Democratic Party primary, the then newly elected State Senator Chet Edwards of Waco, and later U.S. Representative for the 11th and the 17th congressional districts of Texas (January 3, 1991 – January 3, 2011).

Another special election opponent was Texas State Representative Dan Kubiak of Rockdale, Texas.

1996

Gramm was an unsuccessful candidate in the 1996 Republican Party presidential primaries against eventual nominee Bob Dole.