Rep. David B. McKinley, P.E. (R-W.Va.) became an original co-sponsor of three bills (H.R. 3788, 3789, 3790) that would reverse a provision in the budget agreement that would cut the cost of living adjustments for military retirees.
"Congress should not be trying to cut spending on the backs of those who served," said Rep. McKinley. "Many military retirees and disabled veterans are being unfairly penalized by having their cost of living increases cut which is one of the reasons I voted against the budget agreement. These three needed pieces of legislation will restore what is owed to military retirees and disabled veterans."
H.R. 3788: Replaces the decrease in cost-of-living increases for military retirees with a provision that would require anyone who claims a child tax credit must have a valid social security number. The Joint Economic Committee projects this will save almost $8 billion over ten years.
H.R. 3789: Exempts the retired pay of certain disabled veterans from the reduced adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62.
H.R. 3790: Repeals the annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62.
Under the two-year budget agreement, military retirees under the age of 62 would see their pensions increase at a slower pace, with their cost-of-living adjustments linked to the rate of inflation minus one percent. At the age of 62, retirees would receive adjustments linked to the full rate of inflation.