WASHINGTON – U.S. Senator Chris Coons (D-Del.) voted Monday to advance legislation that would repeal cuts to military retiree benefits. The bipartisan budget agreement adopted by Congress in December will temporarily reduce cost-of-living-adjustments for military-retiree pensions beginning in 2015.
“Congress must take action to reduce our nation’s dangerous deficits, but it should not do so on the backs of our military families,” Senator Coons said. “The Bipartisan Budget Act was an important step forward, but like any compromise, it was far from perfect. Cuts to military-retiree pensions unfairly target those who have sacrificed the most for our country. The bill we advanced tonight would repeal these cuts, and I’m glad my colleagues have joined me in supporting this fix for our veterans.”
The Bipartisan Budget Act included $6 billion in savings over 10 years obtained by reducing the cost-of-living adjustments for working-age military retirees younger than 62 by 1 percent beginning January 1, 2015. The bill advanced by the Senate on Monday would repeal this provision. In December, Senator Coons cosponsored a similar bill that would replace cuts to military-retiree pensions with new legislation that could raise as much as $6.6 billion over ten years by preventing companies from using foreign tax havens to avoid U.S. taxes. Read more about the bill here: http://1.usa.gov/1et9iyr