English | Español
Press Release
Senator Kay Bailey Hutchison (R-Texas) and
William F. Aldinger III, Chairman of Household International, Awarded 2004 Adam Smith Medals
The awards, co-sponsored by FOAS and the Business Industry Political Action Committee (BIPAC), are given annually to one federally-elected official and one business leader whose actions and attitudes exemplify the spirit of free enterprise as espoused by Adam Smith, a philosopher and professor often credited with establishing the concept of free enterprise capitalism.
"Sen. Hutchison's voting record for the 107th Congress was 100 percent pro-prosperity," said Conrad Plimpton, FOAS chairman and CEO of Plimpton and Company. "Throughout her career, Sen. Hutchison has worked to strengthen the American economy by voting for fair taxes, increasing the competitiveness of American businesses and preserving a solid workforce."
As chair of the Surface Transportation and Merchant Marine Subcommittee, Sen. Hutchison was instrumental in drafting and passing the "Ocean Shipping Reform Act," which helps U.S. ships, ports and shippers better compete internationally. Hutchison was the chief Senate sponsor of the marriage penalty tax relief bill, a key provision of the recent tax reform package, and was instrumental in the reduction of double taxation. In addition, Sen. Hutchison authored provisions of the "No Child Left Behind Act" that, in part, will help recruit mid-career professionals and retired teachers into the nation's school systems.
"William Aldinger's work with Household International and his dedication to community service epitomize Adam Smith's belief in free enterprise and commitment to the individual," said Plimpton. "Not only has Household grown under his leadership, increasing the availability of innovative financial resources to hardworking Americans, but countless individuals have been given the opportunity to improve their quality of life thanks to his steadfast faith in the fruits of service to his fellow citizens."
Under Aldinger's leadership, Household has helped empower its employees to play a more active role in politics and good government by conducting internal voter registration drives.
Previous recipients of the Adam Smith Federal Elected Official medal include Representatives Anne Northup (R-Ken.), Charlie Stenholm (D-Texas), John Boehner (R-Ohio), Cass Ballenger (R-N.C.) and Sen. Larry Craig (R-Idaho). Vice President Richard Cheney, former chairman of Halliburton; Lee Raymond, chairman of ExxonMobil; Earle Williams, former president and CEO of BDM; Tim Timken, chairman of The Timken Company and International Paper Chairman & CEO John Dillon have previously won the Business Citizen medal.
About the Friends of Adam Smith (FOAS)
The Friends of Adam Smith is a not-for-profit foundation that researches and promotes, through the education of business and policy leaders, historical and relevant links between politics, public policy and economic freedom in the United States. It is recognized by the IRS as a 501(c)(3) organization. For more information about FOAS or the Adam Smith Awards Dinner, go to www.friendsofadamsmith.org.
About the Business Industry Political Action Committee (BIPAC)
As the nation's first business PAC founded in 1963, BIPAC's mission is "Electing Business to Congress". BIPAC provides expert policy analysis, research and communications on campaigns and elections, and fosters business participation in the political process. It has earned a reputation as the pre-eminent source of political intelligence for those engaged in American business. For more information, visit www.bipac.org.
