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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (April 1, 2003)
Tuesday, April 1, 2003 THE BATTALIO Charity groups to lawmakers: Don’t sell tobacco payments By Connie Mabin THE ASSOCIATED PRESS AUSTIN — A group of anti-tobacco groups came together Monday to reveal an ad campaign that targets lawmakers grap pling with a $9.9 billion budget shortfall. The message: Don’t sell away future pay ments from the state’s multibillion-dollar tobacco settlement to help balance the budget. The Texans Investing in Healthy Families Coalition said the state would only get 20 cents for every dollar of the $15 billion fund it would securitize in an effort to get upfront cash to use in the 2004-05 spending plan. Proponents have estimated getting at least $5.8 billion. Securitization works this way: The state would sell tobacco bonds, that depending on market conditions, would result in a cash advance for the state. But the state would give up those future payments and any relat ed interest. Interest from the fund is now used to pay for the Children’s Health Insurance Program, anti-smoking efforts and other health care initiatives. Gov. Rick Perry repeated his opposition Monday to securitization of the tobacco settlement. “There are a number of budget issues, budget rev enues, that we don’t support. Tobacco securiziation would be one of them,” Perry said. The securitization idea has been kicked around the Capitol by the influential lobby Texas Association of Business, Lt. Gov. David Dewhurst and several state senators as a way to close the budget gap without rais ing taxes. “Using securitization to solve our state’s budget problems would be like putting a Band-Aid on a severed artery,” said Carter Headrick of the Campaign for Tobacco Free Kids. His group is part of the coalition that bought a full-page newspaper ad in the Austin American-Statesman and radio commer cials that will begin airing Tuesday on three stations in the Texas capital. Dewhurst said Monday that he’s never favored securitizing the entire fund. The coalition hopes their campaign will persuade law makers to drop the idea. The ads feature an oversized, cigar-smoking black cat wearing a “lobbyist” name tag who’s trying to make a deal with lawmakers. The ad says that selling away billions in future annual payments would cost billions more in the future and threat en health care programs. “But a Wall Street firm would make hundreds of millions of dollars. It's a big win for rich lobbyists, a big loss for Texas children,” the ad states, referring to the large fees brokers would earn for conduct ing the sale of bonds. Using securitization to solve... budget prob lems would be like putting a Band-Aid on a severed artery. — Carter Headrick Campaign for Tobacco Free Kids Candidates Continued from page 1 an African American studies program. This is in the process of form, and this is something we support.” Josefy stressed the need for mentoring as a way to facilitate adhc environment. His mentor program, which he offered as a solution many of the problems facing campus, would match incoming freshn- with experienced upperclassmen. “If we bring in a student that doesn’t feel welcome and match up with a student who makes them feel welcome, then we’ve accot plished our goal,” Josefy said. Voting for the runoff election will take place Wednesday i Thursday. Students can cast their ballots at vote.tamu.edu. The twojj ior yell leader positions will also be up for grabs in the runoff, s; Corps nominees Ryan Bishop and Paul Terrell running against Mi Winn mid Keith Lane. I Economy Continued from page 1 Basinger said. “A&M provides stable jobs for people in this recession-proof economy.” For each month of the last seven years, the Brazos Valley has recorded the lowest unemploy ment rate among the 26 metropol itan areas in Texas. Basinger said. “The area has a pretty good track record, and it all goes back to A&M and its place as the huge stabilizer of our economy,” he said. The local economy benefits from the money students spend in the community, which totaled £ million in 2(K)2. Students £ provide a ready supply prospective employees for la businesses. Even though many businessesi waiting to see what the econa ic fallout is from the war ink before making any major dt sions, some companies ki moved into the Brazos Vallo take advantage of the stuii body for its value as part-# employees, Basinger said, f “Students make great employ* for the retail and non-retails tors." Basinger said. I&M’s Scott Iggies beat tf I AUSTIN basketball ^Brnghorns si ^■ach the Fin: I Right? I Don't try coach Rick F citw in bum lojftier goals. 1 When For Longhorns’ v in the South quickly remii that the team' ■ “We’ve g ■lames told hi I Texas is tl ■linal Four, ar chances in Nt Is. Oklahom: ■ Four last seas Kentucky and I The Long! 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