Friday, January 3, 2014

Issa Introduces Bill to Stop Military Pension Cuts

freebeacon.com ^ | 1/3/14 | Elizabeth Harrington 

A new bill offered in the House of Representatives by Rep. Darrell Issa (R., Calif.) would replace pension cuts to military retirees by ending the U.S. Postal Service’s (USPS) delivery of Saturday mail.
The proposal would save an estimated $17 billion over 10 years and eliminate a controversial provision in the budget deal passed last month that hit military retirees with a 1 percent decrease in their annual cost-of-living adjustments (COLA). The budget agreement did not cut pensions for federal civilian retirees.
“This legislation will restore cost-of-living adjustments for our military retirees and not only replace the savings but nearly triple them—saving $17 billion over 10 years according to conservative USPS estimates,” said Issa, chairman of the House Oversight and Government Reform Committee.
“This common sense reform will help restore the cash-strapped Postal Service to long-term solvency and is supported by the president and key congressional leaders in both chambers,” he said. President Barack Obama recommended scrapping Saturday mail in his budget proposal last year.
(Excerpt) Read more at freebeacon.com ...

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