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Gramm, Phil (William Philip Gramm), 1942-, American politician, b. Fort Benning, Ga. A Univ. of Georgia Ph.D. in economics and former professor, he served as a Democratic member of the House of Representatives from Texas from 1979 until 1983, when he joined the Republican party and won a special election to reclaim his seat. Gramm served in the U.S. Senate from 1985 to 2002, where he chaired (1999-2001) the banking, housing, and urban affairs committee. In the Senate he won a reputation for toughly tenacious, plainspoken leadership and staked out a strong position on his party's right wing. A fiscal conservative, he was a coauthor of the Gramm-Rudman-Hollings Act in the 1980s and later supported a consitutional amendment requiring a balanced federal budget. Gramm made an unsuccessful bid for the 1996 Republican presidential nomination. 
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