Senate Budget is Good for Kentuckians

SENATE BUDGET IS GOOD FOR KENTUCKIANS

by Senator Jim Bunning

Mar 17, 2004 - Last week the Senate approved the Fiscal Year 2005 Budget. As a member of the Senate Budget Committee that crafted the legislation. I can report the budget will hold the line on non-defense spending and reduce the deficit by $139 billion. This will meet President Bush's goal of cutting the deficit in half in five years. The 2005 Budget also prevents burdensome tax increases on Kentucky's middle class working families by extending tax cuts that would otherwise have expired at the end of this year, including the $1,000 per child tax credit, the 10-percent income tax rate for low wage workers, and marriage penalty relief.

The budget passed by the Senate also includes three of my provisions that will help many Kentuckians. My provision to increase the budget for Veterans medical research will help ensure that our Veterans have access to the best health care possible. The amendment adds $101 million to increase the Veterans Administrations Medical and Prosthetics Research program by twenty-five percent. These research funds are vital to providing treatment for such ailments as spinal cord injuries, blindness, lost limbs, and gunshot wounds. VA medical research is critical to our older veterans and those returning from the war on terror.

I also secured a provision to improve educational benefits for members of the National Guard and Reserves by providing money to increase the G.I. Bill Education Benefits that Guard and Reservists receive from 27 percent to 47 percent. This will increase the monthly allowance for guardsmen and reservists from $282 per month to $463 per month. With many Kentucky units overseas and in our homeland fighting the war on terror, we must make it a priority to take care of our Guard and Reservists.

Along with increasing the educational funding to our Guard and Reservists, the 2005 budget builds on past investments in elementary education so children are not left behind. My provision, that passed the Budget Committee, provides $33 million to create a new educational program called Pell Grants Plus. Pell Grants Plus will allow high school students who participate in a "State Scholars Program" receive an extra $1000 in Pell Grants. The program rewards those students who challenge themselves in highschool, and my hope is that high school students across the Commonwealth will better themselves and enroll in scholar programs.

The 2005 budget provides a clear roadmap in a time when America faces a number of challenges. As we continue to fight the war on terror and rebound from a sluggish economy it is vital to have a budget that reflects the challenges of tomorrow while meeting the priorities of today. This budget will hold the line on spending while making sure our soldiers have the tools they need in fighting the war on terror. The budget will also extend tax cuts that will help Kentucky's working families and provide economic stimulus that will create jobs.