Lawmakers vow to reverse military pension cuts (“OOPS” Alert)
Lawmakers vow to reverse military pension cuts (\”OOPS\” Alert)
The Hill ^ | 1/2/2014 | Jeremy Herb
Posted on Thursday, January 02, 2014 6:22:05 AM by markomalley
House and Senate leaders face a dilemma when they return in January amid a bipartisan backlash over cuts to military pensions.
Lawmakers from both parties are demanding the quick repeal of military retirement cuts included in last month’s budget two-year budget deal.
A flurry of bills have been introduced in both chambers to remove the $6 billion cut to the cost-of-living adjustment (COLA) for working-age military retirees, and service and veterans organizations plan a major lobbying push when Congress returns.
But the military pension cut was one of many intertwined elements of the budget agreement struck between Rep. Paul Ryan (R-Wis.) and Sen. Patty Murray (D-Wash.), who chair their chambers’ Budget panels.
Reducing military pensions was a key part of the deal that also reduces pensions for civilian federal workers. The agreement, which was quickly passed in both the House and Senate in December, replaced $63 billion in automatic spending cuts known as the sequester in 2014 and 2015, while reducing long-term deficits by a total of $85 billion.
So far House and Senate leaders have not indicated they will