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 CET

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
mcallaghan@legion.org
or
Craig Roberts, 202-263-2982/202-406-0887
croberts@legion.org
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
03:21p NTPC : beats 12th Plan target by adding 12,840 MW
03:21p NUCOR : Regional Viewpoint -- Focus on people, not purse strings
03:21p WAL MART STORES : Walmart distribution center permits OK`d, `truly significant` project set for groundbreaking
03:21p KOREA GAS : Japan`s JERA, S Korea`s Kogas, China`s CNOOC sign MOU on LNG business co-operation
03:21p Pa. governor expects gas windfall in billions
03:21p DAEWOO SHIPBUILDING & MARINE ENGINEERING : South Korea injects more capital into Daewoo Shipbuilding
03:21p KANEKA : Japanese company develops a solar cell with record-breaking 26%+ efficiency
03:21p FBC : closes in on $90m loan
03:21p NES FINANCIAL : Appoints Bill Salus to Private Equity Advisory Board
03:21p Akumina Launches Revolutionary Globalization Support for Microsoft Customers
Latest news
Advertisement
Hot News 
7.46%Investors find some relief in Next's chilly outlook
-4.03%BASIC FIT : core earnings rise on record number of new gym openings
3.04%GVC : to pay second special dividend for 2016 on favourable trading, refinancing
-3.77%IG : quarterly revenue falls 3.8 percent on UK, Ireland weakness
-5.66%TED BAKER : Retailer Ted Baker's profit rises on strong UK, Europe sales
Most Read News
09:51a AKZO NOBEL : PPG executives bring their campaign to Akzo Nobel's backyard
09:24a BP : Britain awards 25 oil exploration licences in frontier tender
04:02a Verizon, AT&T suspend ads from Google over offensive videos
09:20a ANGLO AMERICAN : Diamond group De Beers buys out retail partner LVMH
09:35a Investors find some relief in Next's chilly outlook
Most recommended articles
03/21 UK to investigate any UK banking involvement in 'Laundromat' case
10:15aDJFEDERAL HOME LOAN MORTGAGE : U.S. Mortgage Rates Lower in Latest Week -- Freddie Mac
10:01a VOLKSWAGEN : VW finance arm makes record 2016 profit despite dieselgate
09:57aDJJOSEPH PAPA : Valeant CEO Joseph Papa Was Paid $62.7 Million in 2016
09:57aDJMAJEDIE ASSET MANAGEMENT LTD MAJEDIE ASSET MANAGEMENT LTD : Form 8.3 - Tesco Plc