CBS 2 - Search Results

The following is an archived video story. The text content of that video story is available below for reference. The original video has been deleted and is no longer available.

Military Pension Bill Advances in Senate

WASHINGTON (AP) -- The Senate has taken the first step toward approving legislation that restores full cost of living increases to pension benefits for military retirees under age 62, although it's unclear when the measure may pass.
  
Monday's vote was 94-0 to advance the bill over an initial hurdle.
  
As drafted by majority Democrats, the $7 billion, 10-year cost of the legislation would add to the deficit. Republicans want cuts elsewhere in the budget to prevent that from happening.
  
The measure would reverse one part of a budget bill that cleared Congress late last year. Under the provision, cost-of-living increases in pension benefits for military retirees under age 62 would be held below the rate of inflation beginning in 2015. Veterans groups have strongly protested the change.

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
 
Advertise with us!
Brought to you by:
Brought to you by:

Washington Times

Sponsored content