Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Legion to Senate: Do Not Reduce COLA for Veterans

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/19/2013 | 03:25pm CEST

The American Legion voiced its outrage over budget cuts on military retirees' benefits at a December 18 press conference in Washington. The U.S. Senate had just passed the Bipartisan Budget Act of 2013, which - if signed by the president - will reduce cost-of-living adjustment (COLA) benefits for America's retired veterans by more than $6 billion.

The bill was worked out between Sen. Patty Murray, D-Wash., and Rep. Paul Ryan, R-Wis., and passed the Senate by a 64-36 vote. Murray and Ryan claim the measure will drop the country's deficit by $23 billion and reduce the impact of sequestration.

"Passing this broken legislation today was wrong," Louis Celli, the Legion's Legislative director said at the press conference. "It was wrong because (the Senate) had time to fix it, and ... chose not to."

While several bills have already been introduced into Congress to repeal the COLA cuts, "some who seek to 'technically fix' this provision are only looking to repeal the portion that affects medically retired veterans," Celli said. "I guess the rest of the military retirees aren't worth the trouble to fix."

The reductions in COLA benefits would affect about 900,000 military retirees, including those who are medically retired. Over a 10-year period, COLA benefits would be reduced by 1 percent per year, resulting in a total savings of $6.3 billion.

Noting that the 113th Congress has passed only 58 pieces of legislation out of more than 6,600 introduced, Celli said, "And now we're supposed to put our faith and trust in the same Congress to pass a law that overturns this (COLA provision), when they were unable to fix it in the first place? Make no mistake - The American Legion will dedicate every available resource to repealing and overturning this provision.

"The day would go down in history as the day Congress turned their backs on veterans everywhere by selling out 0.2 percent of the American population and asking them to be held financially responsible to pay for sequestration."

National Commander Daniel M. Dellinger said he is "absolutely sickened by the thought that the only group targeted by the budget bill to lose direct income is the American veteran, including veterans who have been medically retired from military service due to catastrophic injuries sustained in battle."

The American Legion
Washington:
Marty Callaghan, 202-263-5758/202-215-8644
[email protected]
or
Craig Roberts, 202-263-2982/202-406-0887
[email protected]
or
Indianapolis:
John Raughter, 317-630-1350/317-441-8847


© Business Wire 2013
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
01:58p COBALT 27 CAPITAL : IIROC Trading Halt - KBLT
01:55p Toshiba willing to talk with spurned Western Digital about chip unit sale
01:55p Toshiba willing to talk with spurned Western Digital about chip unit sale
01:55p IIROC Trade Halt - Cobalt 27 Capital Corp.
01:54p Ireland could review cap on bank share sales - finance minister
01:54p DR PEPPER SNAPPLE : New Bins Encourage Recycling On-the-Go in the City of Reno
01:54p PROCTER & GAMBLE : Former P&G Employee Pleads Guilty to Defrauding Company
01:54p CLEAN ENERGY TECHNOLOGIES : City Takes Further Steps in Commitment to Fight Climate Change
01:54p YANGO : Interactive Apps Connect Citizens to Sunshine City
01:54p KNOXVILLE TOP WORKPLACES : Unwritten culture drives policy at Pinnacle Financial Partners
Latest news
Advertisement
Hot News 
12.87%IMAGINATION TECHNOLOGIES : U.K. Chip Designer Puts Itself on Block -- WSJ
-1.15%VOLKSWAGEN : VW waives appeal against German dieselgate compensation cases
-1.40%FTSE struggles one year on from Brexit, haunted by uncertainty
-1.03%A year after Brexit vote, European and UK shares diverge
-1.22%DIAGEO : King of Good Times' Gives Diageo a Hangover -- WSJ
Most Read News
02:48aDJJEFF BEZOS : Blind Faith in Bezos May Sting Investors -- WSJ
06/22 WARREN BUFFETT : 'Bailout' Buffett burnishes 'lender of last resort' image
06/22 EXCLUSIVE : China Unicom counts Alibaba, Tencent among investors in drive to raise $10 billion - sources
05:50aDJGlobal Shares Pause as Oil Price Continues to Drag -- Update
06/22 American Airlines pushes back on Qatar Airways plan to buy stake
Most recommended articles
07:54a Ireland could review cap on bank share sales - finance minister
07:48aDJSAMSUNG ELECTRONICS : Makes Big Play in Drug Market With Cheaper Version of Blockbuster Humira
07:38a Stock futures little changed as oil prices edge up
07:37aDJRWE Executive Board Intends Special Dividend Amounting To EUR 1.00 Per Share Due To The Reimbursement Of The Nuclear Fuel Tax
07:33a Accenture unloads $1.6 billion in pension liabilities to AIG, MassMutual