Home » Next Stop for Retirement-Blasting Budget Bill — The Senate

Next Stop for Retirement-Blasting Budget Bill — The Senate

by Jeremy Holcombe

The next stop for the retirement-trimming budget will be the floor of the Senate floor, as the upper house  on Tuesday agreed to vote on the budget deal that includes a reduction in cost-of-living allowances (COLA) for working-age military retirees starting in 2015.

The cloture vote — which shut down debate on the budget bill — passed 67-33, meaning the 2013 Bipartisan Budget Act will be voted on no later than Wednesday and, if passed, sent to President Obama’s desk.

This budget deal has not been popular, as veterans service organizations and other veterans groups and military associations have objected to the cuts.

New Budget Bill Details

According to Military.com, the changes under the bill would help the Defense Department avoid $62 billion in sequester cuts over two years. Veterans groups are sharply opposed to a provision that reduces post-2014 COLA by 1%.

The House passed the measure, worked out between Sen. Patty Murray, D-WA and Rep. Paul Ryan, R-WI last week. Shortly before Tuesday’s vote, three Republican Senators joined with military advocates to call for rejecting the deal if it includes the COLA provision.

Despite the resistance to the bill, it seems it is going to pass, and then head to the President’s desk for his signature. It looks as though this bill will be law, much to the chagrin of veterans service organizations and other veterans groups.

Sources: Military.com | Defenseone.com

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