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
React to this article
Latest news
Date Title
10:40a NN Investment Partners celebrates rebranding in Taipei
10:40aDJHEWLETT PACKARD : H-P to Sell Snapfish Photo-Storage Business to District Photo--Update
10:40a OREXIGEN THERAPEUTICS : SHAREHOLDER ALERT: The Law Offices of Vincent Wong Notify Investors of Class Action Involving Orexigen Therapeutics, Inc. and a Lead Plaintiff Deadline of May 11, 2015
10:40a Phoenix Sky Harbor International Airport Selects Telos ID Designated Aviation Channeling for Aviation Worker Background Checks
10:39a SAMPATH BANK : Trade Finance Association of Bankers holds AGM
10:39a SRI LANKA TELECOM : at 65th place in Global IT Report
10:39a SINGER SRI LANKA : Fitch rates Singer's proposed debenture issue 'A-)(EXP)'
10:39a TURK HAVA YOLLARI AO : Turkish Airlines adds its 2nd destination in California; 11th in the Americas
10:38a Singhe Hospitals debuts today on CSE
10:38a SOFTLOGIC CAPITAL : Finance opens branches in Senkadagala and Pamankada
Latest news
Advertisement
Hot News 
SHOE ZONE : Issues Profit Warning As Warm Weather Trips Up Sales
SIERRA RUTILE : to start Gangama Dry Mine Project
RHINO RESOURCE PARTNERS : Announces First Quarter Distribution and Earnings Release Date
ACCESS INTELLIGENCE : K3 Business Technology Buys Willow From Access Intelligence
ECHO GLOBAL LOGISTICS : Reports Record First Quarter Results; Revenue up 14% Year Over Year
Most Read News
04/20 WAL MART STORES : Union seeks labor board injunction over Wal-Mart store closings
04/20 PLATTS : Pre-Report Survey of Analysts’ EIA/API Estimates Suggests a 2.6 Million-Barrel Build in U.S. Crude Oil Stocks
04/20 HORMEL FOODS : says bird flu outbreak will reduce its turkey sales; about 2.4M turkeys lost nationwide
04/20 PLATTS : JKM™ for May-delivered LNG Showed First Monthly Gain since November
08:41a ROYAL DUTCH SHELL A : Foreign petrochemical buyers owe $18B to Iran
Most recommended articles
10:36a Mongolia deal gives guarantee to lenders for major mine project
10:34a Eurogroup's Dijsselbloem expects deal with Greece in coming weeks
10:34aDJHEWLETT PACKARD : H-P to Sell Snapfish Photo-Storage Business to District Photo
10:33a Eurogroup's Dijsselbloem expects deal with Greece in coming weeks
10:32a Ladbrokes secures court protection to restructure Irish unit
Dynamic quotes  
ON
| OFF