Tags: military | pensions | repeal | cuts

15 Bills Seek to Repeal Military Pension Cuts

By    |   Saturday, 04 Jan 2014 07:42 PM

Fifteen bills to repeal the cuts to military pensions included in the budget deal signed last month by President Barack Obama are pending in the House of Representatives and the Senate.

The legislation is backed by more than 150 House members and 35 senators — Republicans and Democrats, The Hill reports. The measures would repeal the reduction in the cost-of-living adjustment for working-age military retirees.

The reduction was included in the deal negotiated by Republican Rep. Paul Ryan of Wisconsin, chairman of the House Budget Committee, and Democratic Sen. Patty Murray of Washington, who heads the Senate Budget Committee.

Ryan has said that he was open to changing the military pension cuts "if people believe there is a better way to solve this problem." Military retirees could face up to $124,000 in lost retirement pay over a lifetime. The one percent annual cuts would save about $6.2 million over 10 years.

Despite the broad support, however, none of the bills that have been introduced has included a way to fund the $6 billion should it be restored, the Hill reports. The omission jeopardizes the chances of any of the bills finally making it into law.

"People are allowed to go out there and say what they want, but it is not going away,” a top conservative strategist told the Hill. “How are they going to pay for it going away?"

In fact, Rep. Darrell Issa of California, the Republican chairman of the House Oversight Committee, proposed this week to pay for the cuts by limiting Saturday mail service — even though the cash-strapped U.S. Postal Service says it lacks the money to meet its own obligations to a retiree healthcare trust fund.

The USPS has tried to eliminate letter delivery on Saturday in the past, which it estimates would save about $2 billion a year. The Postal Service lost $16 billion in 2012.

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Fifteen bills to repeal the cuts to military pensions included in the budget deal signed last month by President Barack Obama are pending in both the House of Representatives and the Senate.
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2014-42-04
Saturday, 04 Jan 2014 07:42 PM
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