The Associated Press

LOUISVILLE - Sen. Jim Bunning will swap committee assignments when the next Congress convenes, giving up a seat on the Armed Services panel for a position on the Finance Committee.

The move comes as Fort Knox supporters are bracing for another round of base closings. They had hoped that Mr. Bunning's influence on the defense panel would give the post some leverage.

Mr. Bunning, R-Ky., said the chance to become a member of the Finance Committee was too valuable to pass up. He will become the first Kentuckian in nearly 40 years to get a seat on that panel.

The committee will deal with such issues as tax relief, Medicare prescription-drug benefits and Social Security reform, Mr. Bunning said.

"The one disappointment about this change is that I have to give up my seat on the Senate Armed Services Committee," he said.

Mr. Bunning said he would continue to look out for Kentucky's military installations.

Retired Col. Don Williams, vice chairman of the Kentucky Commission on Military Affairs, said, "We would have preferred that he keep his seat on the defense committee. But we do understand his rationale for changing committees."