Five-Term Senator William Roth Defeated in Delaware

The identity of the new president may not be determined for weeks, but there is a new look to the Senate that will have a significant effect on the way things get done in the future.

Senator William Roth, chairman of the Senate Finance committee, and originator of the Roth IRA, was defeated in Delaware last night. Delaware Governer Tom Carper, a former five-term Congressman from Delaware, was victorious after running an agressive campaign over a competitor who has lately been showing his age.

Although few dispute the important fiscal legacy left behind by Senator Roth, many analysts conclude that the Senator's advanced age, 79, and the fact that he stumbled and fell twice in front of cameras during the late weeks of campaigning were the strongest factors contributing to his defeat.

Both candidates spent an enormous amount of money on this election - a combined total of nearly $6 million - making this the most expensive campaign in Delaware history.

You may like these other stories...

By Jason Bramwell Government leaders of eight of the world's largest economies pledged on June 18 to take a tougher stance on fighting tax evasion. The Group of Eight (G8) leaders, who met in Northern Ireland,...
By Jason BramwellAttorney General Eric Holder is scheduled to testify on May 15 before the House Judiciary Committee, one day after he announced the Justice Department has opened a criminal investigation of the IRS for...
By Jason BramwellPresident Barack Obama says he will not tolerate political bias at the IRS and promised to get to the bottom of the agency's admitted targeting of conservative groups, according to a May 13 article in...

Upcoming CPE Webinars

Apr 22
Is everyone at your organization meeting your client service expectations? Let client service expert, Kristen Rampe, CPA help you establish a reputation of top-tier service in every facet of your firm during this one hour webinar.
Apr 24
In this session Excel expert David Ringstrom, CPA introduces you to a powerful but underutilized macro feature in Excel.
Apr 25
This material focuses on the principles of accounting for non-profit organizations' revenues. It will include discussions of revenue recognition for cash and non-cash contributions as well as other revenues commonly received by non-profit organizations.
Apr 30
During the second session of a four-part series on Individual Leadership, the focus will be on time management- a critical success factor for effective leadership. Each person has 24 hours of time to spend each day; the key is making wise investments and knowing what investments yield the greatest return.