Video can be found here.
This week the Senate is considering legislation that would repeal an expected cut in the cost-of living adjustment for military retired pay for retirees who are under age 62.
This cut was included in the federal budget bill that passed late last year. No VA benefits are affected one way or the other. But, retirement benefits for these retirees were partially cut in the budget agreement. This has caused quite an uproar, with many voicing concerns that this was not the right decision. Those voicing concern supported legislation to repeal it.
The issue is finding other savings somewhere to pay for the restoration of these benefits. We need to find other places to save so that we don`t add $5.7 billion to the deficit.
I support restoring the cost-of-living adjustment. These retirees have honorably served their country. They were made a promise years ago when they joined the military. Changing the rules in the middle of the game like this is simply unfair. We need to work to find other places within the budget to save so that we can keep our promise to these military retirees.
In a weekly video address, Senator Grassley discusses legislation that the Senate is considering that would repeal an expected cut in the cost-of living adjustment for military retired pay for retirees who are under age 62.
