Member access

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 

Legion to Senate: Do Not Reduce COLA for Veterans

12/19/2013 | 09:25am US/Eastern

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
Latest news
Date Title
2m ago RICOH : GNU Bash “Shellshock” Security Vulnerability
2m ago IGG : Oct 19, 2014Clash of Gangs Official Worldwide Launch!
2m ago WILLIAM ACKMAN : Ackman, Valeant lawyers say Allergan CEO oversaw campaign to discredit Valeant
11m ago CHUN WO DEVELOPMENT : China New Way Inv to make offer for Chun Wo Dev
11m ago GCL POLY ENERGY : issues Rmb400m second tranche notes
11m ago ZHENGZHOU COAL MINING MACHINERY : ZMJ 9-month net profit down 62.6% to Rmb261m
11m ago WAI YUEN TONG MEDICINE : tips interim profit down over 50%
11m ago ZMFY AUTOMOBILE GLASS SERVICES : Glass to buy Heilongjiang property at Rmb48m
11m ago HSI opens up 3 pts to 23,073; H-shr down 19 pts at 10,276
11m ago SHANGHAI ELECTRIC : SH Electric 3Q net profit down 21.8% to Rmb493m
Latest news
Advertisement
Hot News 
BANCO ESPIRITO SANTO : Novo Banco's Angolan Bank to Lose Most of Loan From Collapsed Banco Espirito Santo
DOMINION MIDSTREAM PARTNERS : Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits (form 8-K)
NCR : Announces Preliminary Third Quarter 2014 Results and Lowers Full-Year 2014 Guidance
NUTRECO : SHV and Nutreco announce a recommended cash offer of EUR 40 per share for all shares of Nutreco
SINOCOKING COAL AND COKE CHEM IND : Aboveground Syngas Facility Commences Operations
Most Read News
4h ago Chipotle stock dips as sales growth forecasts come down
1h ago Total CEO de Margerie killed in Moscow business jet accident
2h ago New Microsoft CEO pay tops $80 million with big stock awards
5h ago GULFMARK OFFSHORE : Announces Third Quarter 2014 Operating Results
4h ago Lockheed says has plan to catch up on F-35 deliveries by year-end
Most recommended articles
1m ago WILLIAM ACKMAN : Ackman, Valeant lawyers say Allergan CEO oversaw campaign to discredit Valeant
11m ago Aussie Dollar Edges Higher on China GDP, Yen May Rise on US Data
15m agoDJChina Growth Slows to 7.3% -- Update
17m ago EUR/USD Downside Momentum Fades As Intraday Dojis Signal Indecision
18m agoDJCEO of French Oil Giant Total Dies in Moscow Plane Crash -- Update
Dynamic quotes  
ON
| OFF