    [Public Papers of the Presidents of the United States: George W. Bush (2001, Book II)]
    [September 4, 2001]
    [Page 1073]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Senator Phil Gramm's Decision Not To
    Seek Reelection
    September 4, 2001

        The Senate is losing a principled leader with the decision of Phil
    Gramm to retire after over two decades of distinguished service to the
    people of Texas and America. Senator Gramm is a man of common sense and
    uncommon courage who bases decisions on principle and always fights for
    what he believes is right.
        Senator Gramm has been a consistent and committed advocate of tax
    relief for working Americans, beginning with his work on President
    Reagan's tax cut in 1981 as a Member of the House of Representatives and
    continuing with his tireless efforts to pass this year's monumental tax
    relief package.
        As chairman and ranking member of the Senate Banking Committee,
    Senator Gramm has been responsible for major reforms, including the
    landmark Gramm-Leach-Bliley Financial Services Modernization Act.
        Senator Gramm is a close friend and valued adviser, and I look
    forward to working closely with him during the remainder of his term.
        Laura and I extend our thanks to Phil, Wendy, and their children, Marshall
    and Jeff, for their family's commitment to public
    service and wish them all the best in the future.