This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Officials: Democratic Sen. Baucus To Retire

The panel has a long tradition of bipartisanship, but Baucus ascended to power in an era of increasing partisanship in Congress.

Many Democrats were unhappy when he worked with Republicans to enact the tax cuts that President George W. Bush won in 2001. And then again in 2004 when Congress pushed through a GOP plan to create a new prescription drug benefit under Medicare, a measure that most Democrats opposed as a giveaway to the large drug companies.

Baucus stood with fellow Democrats in 2005 when Bush proposed legislation to partially privatize Social Security, an epic battle that ended in defeat for the president's effort.

He played a central role in the enactment of Obama's watershed health care legislation in 2010, although some inside his party complained that precious momentum was lost while he spent months on bipartisan negotiations that ultimately proved fruitless.

More recently, Baucus has expressed opposition to Democratic proposals to use an overhaul of the tax code as a means of raising additional revenue. He was one of four members of his party to oppose the budget the leadership brought to the floor with a requirement to that effect.

On other issues large and small, Baucus' voting record reflected his rural state.

Most recently, he voted against legislation that Obama backed to expand background checks for gun purchasers.

During the debate on the budget, he was the only Democrat to vote for a proposal to reopen White House tours. Most members of his party viewed the GOP measure as an attempt to embarrass Obama, but it would also have meant more money for clearing snow from the entrances to Yellowstone National Park, a portion of which is in Montana.

For more than a decade, Baucus has sought federal assistance for the residents of Libby, Mont., where asbestos contamination from a vermiculite mine has been linked to deaths and illnesses.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs