Senate to Clear Bill Ending Military Pension Cuts
WASHINGTON (AP) — The Senate is on track to clear a bill to reverse cuts to military pensions enacted just two months ago.
The measure restores the 1-percentage-point cut to annual the cost of living increase for working age retired service members that was part of December’s budget agreement. The bill passed the House yesterday and a Senate vote Wednesday afternoon would send it to the White House for President Barack Obama’s signature.
Military retirees are eligible to retire at half pay after 20 years of service and often do so in their early 40s and move on to a second career.
The pension cut was pressed by House Budget Committee Chairman Paul Ryan, a Wisconsin Republican. But it sparked political backlash in the influential military and veterans community.