REED PARTNERS WITH VETERANS’ AFFAIRS COMMITTEE TO RESTORE FULL COLA BENEFITS FOR VETERANS
Rep. Tom Reed announced Monday his co-sponsorship of a key bill to restore full cost-of-living-adjustment (COLA) benefits for military retirees. Reed worked with Rep. Jeff Miller, Chairman of the House Committee on Veterans’ Affairs, on the measure to ensure veterans do not see a decrease in their annual benefits beginning in 2016.
“Veterans should not have to worry about a reduction in benefits from one year to the next,” Rep. Reed said. “Spending cuts should instead focus on the real drivers of our debt – it’s not fair or right for those cuts to fall on veterans and service members. Our legislative fix takes cuts to veterans clearly off the table and is one I am confident Members on both sides of the aisle can rally around in support of our veterans, service members and their families.”
The Ryan-Murray budget agreement the President signed into law last month included a provision that would impact the annual cost-of-living adjustment for military retirees. Under that provision, there would be no alteration to military retirees’ COLAs until 2016, allowing time for Congress to enact a legislative fix ahead of implementation.
“The benefit adjustment was a real concern for us at the time of the budget agreement and because no amendments were permitted on that vote, we made it a point then to put into place a legislative fix that takes care of veterans and their families,” Reed continued. “Taking action now to avoid these harmful cuts before they take effect is the right thing to do.”