Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

Obama Picks Biden

Your article was successfully shared with the contacts you provided.

Sen. Barack Obama, D-Ill., the presumptive Democratic presidential nominee, has chosen Sen. Joseph Biden, D-Del., to be his running mate.

The Topeka Capital-Journal is reporting that Kansas Gov. Kathleen Sebelius, D, a former Kansas insurance commissioner and former president of the National Association of Insurance Commissioners, Kansas City, Mo., was one of the 4 leading contenders for the vice presidential slot but may have been passed over because of her lack of foreign policy experience.

Biden is chairman of the Senate Foreign Relations Committee and a member of the Senate Judiciary Committee. He also is a member of the Congressional Fire Services Caucus.

- In 1999, Biden voted against S. 900, the bill that eventually created the Gramm-Leach-Bliley Financial Services Modernization Act, but he voted for the conference report, or House-Senate compromise version of the bill, that was signed into law.

- In 2001, Biden voted against H.R. 1836, the bill that created the Economic Growth and Tax Relief Reconciliation Act of 2001, and he also voted against the conference report version of the bill that was signed into law.

- In 2005, Biden criticized the Bush administration’s efforts to create a system of private Social Security accounts during an appearance on NBC’s “Meet the Press.

“No matter how you cut it, this real debate on personal accounts is about the legitimacy of Social Security; it’s not about the solvency of Social Security,” Biden said during the show, according to a transcript posted to his Senate Web site. “This does nothing not only to not make it solvent…it makes it less solvent. It makes it less solvent. You’ve got to come up with $2 trillion in order to accommodate the president’s plan that he put out there.”

- In 2006, Biden voted for H.R. 4, the bill that created the Pension Protection Act of 2006.

- In 2007, Biden wrote an op-ed urging President Bush to reauthorize the Children’s Health Insurance Program.


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.