As of Wednesday, January 22, 2014:
The Senate is poised to consider a massive veterans bill that not only would improve education, health and employment benefits for former troops, it would restore the cost-of-living adjustment reduction for military retirees set by the Bipartisan Budget Act.
The 352-page Comprehensive Veterans Health and Benefits and Military Retirement Pay Restoration bill, or S. 1950, encompasses many previously proposed legislative initiatives, from requiring public universities to extend in-state tuition to any veteran using their GI Bill benefit to authorizing fertility services for severely wounded service members.
But it also takes on the most contentious portion of the
budget deal forged by Rep. Paul Ryan, R-Wis., and Sen. Patty Murray, R-Wash.: the reduction of the cost of living adjustment to military retired pay by 1 percent for retirees under age 62.
The bill, sponsored by Sen. Bernie Sanders, I-Vt., would repeal the provision.
“These service members have paid a very, very high price for their service ... it’s my belief as chairman of the [Senate] Veterans Committee, we have to do everything possible to give back to them and their families,” Sanders said during a telephone conference with reporters Wednesday.
The COLA reduction is expected to save the federal government $6 billion over 10 years. Sanders estimates that his entire bill, including the COLA cut repeal, will cost $30 billion over the next decade.
http://www.navytimes.com/article/20...ould-restore-COLA-reduction-military-retirees