"Since Governor Bredesen left office and our state with a 10.4 percent unemployment rate, Tennesseans have seen their state and their lives improve". He cruised to re-election in 2006, garnering more votes than any gubernatorial candidate in Tennessee history and sweeping all 95 counties against Republican opponent Jim Bryson.
Chattanooga Mayor Andy Berke has also been mulling on the idea of running for the position.
Phil Bredesen has been calling potential donors to let them know he plans to join the race to succeed Republican Bob Corker in the U.S. Senate.
U.S. Rep. Marsha Blackburn, former U.S. Rep. Stephen Fincher and Dr. Rolando Toyos are also seeking the position, The Tennessean reported.More news: Read Mike Mitchell's full rant on National Football League rules, suspensions
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There's a major development in Tennessee's U.S. Senate race. In a video announcing his candidacy, Bredesen again sounded centrist themes, touting his experience as governor and his ability to work across party lines.
National Democrats have courted Bredesen for months to run, seeing him as their best - and perhaps only - chance to win the seat in a state where President Trump won by 26 percentage points.
Bredesen was a popular governor and widely credited with helping build Nashville's booming economy. Chattanooga mayor Andy Berke has expressed interest in the Democratic nomination as well.
Blackburn, 65, has served in the U.S. House of Representatives since 2003.