Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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
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
React to this article
Latest news
Date Title
03:02a YAHOO : Chicago Tribune Phil Rosenthal column
03:00a COSTCO : Wholesale Corporation Reports April Sales Results
02:58a AUSTAL : awarded Pacific Patrol Boat Contract
02:58a AXIATA BHD : Others
02:58a NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : Other Issue Of Securities
02:58a FRASER AND NEAVE : F&N invests over $70 million (RM210 million) in Malaysia to augment capacity
02:56a GREAT PANTHER SILVER : reports first quarter 2016 financial results
02:55a WAL MART STORES : Couponing class offers tips on saving; spots still available
02:55aDJTurkish Lira Slides to Two-Month Low
02:54a NEXUS MINERALS : Drilling Advances Geological Knowledge on Pinnacles JV - 5 May 2016
Latest news
Advertisement
Hot News 
LSK : ‘Fiddler on the Roof' coming to CHT on June 10
AVOLON : delivers its first Airbus A320neo aircraft
MARECHALE CAPITAL : Unaware Of Any Reason For Share Price Jump
DEUTSCHE POSTBANK : Glory, Deutsche Postbank implement closed-loop cash-handling system
Purcell Julie & Lefkowitz LLP Is Investigating Histogenics Corporation for Potential Breaches Of Fiduciary Duty By Its Board of Directors
Most Read News
06:40p PORT OF HOUSTON AUTHORITY : to Host First Gulf Shipping Conference
06:09p GOVERNMENT OF BARBADOS OFFICE OF PRIME MINIS : Jet Blue Inaugural Flight From Fort Lauderdale
07:19p CLIFFORD CHANCE LLP : advises on sale of the Isaac Plains Coal Project by Sumitomo Corporation and Vale
06:39p Alpha and Omega reports 3Q loss
06:11p Priority Power Management’s John Bick to Speak at the Permian Basin Gas Processors Association Annual Meeting
Most recommended articles
05/03DJUBS Shares Drop As Profit Slumps
08:55pDJTurkish Lira Slides to Two-Month Low
08:53p Oil jumps on Canadian wildfire near oil sand fields, Libyan fighting
08:52p Raging oil sands wildfire sends differentials surging
08:38pDJICBC Financial Leasing Plans U.S. Dollar-Denominated Bond Offering via Offshore Unit -- Document