Frist sees state benefits in US budget

U.S. Senator Bill Frist (R-TN) commented on February 3rd on Tennessee priorities in the President’s FY 2004 budget: “The President’s 2004 budget proposal is a bold plan that will strengthen our economy, continue our fight against terrorism at home, defend our nation from threats abroad, modernize MediCare by providing prescription drugs to our elderly, and allow Americans to keep more of their hard-earned money.” Frist said in a released statement. “Under his plan, Tennessee will receive significant funding to strengthen education, health care and defense. The plan includes $98 billion in tax relief to grow the economy and create jobs, ultimately benefitting 1.69 million Tennesseans, 423,000 small businesses, and over 685,000 married couples throughout Tennessee. It also supports critical military construction and quality of life projects for Tennessee’s national guard and Fort Campbell, as well as state priorities like the Spallation Neutron Source and the Nanoscale Science Research Center at the Oak Ridge National Laboratory, the modernization of the Y-12 plant, and environmental cleanup activities in Oak Ridge. “While there is concern about how to handle TVA’s debt level, I believe TVA does need to continue to reduce its debt each year in order to lower interest costs and be competitive in the future. While this will not be an easy balance, TVA should reduce its debt as quickly as possible without imposing unnecessary or burdensome rate increases on Tennessee ratepayers, and I look forward to working with them on a plan to accomplish that goal.”