01.16.14

Hoeven, Heller, Colleagues Introduce Bill to Fix Military Pension COLA Reductions

Legislation Fully Pays for FIx to Military Retiree Cuts, Unemployment Benefits Extension, Payment Reduction to Medicare Providers

WASHINGTON – Senator John Hoeven and Republican colleagues today introduced the Responsible Unemployment Compensation Extension Act of 2014, legislation that will repeal the Cost of Living Adjustment (COLA) reduction for military retirees that was included in the recent budget agreement. The measure also includes an offset for a three-month extension of temporary long-term unemployment benefits and averts payment reductions for Medicare providers.

The measure would repeal cuts to military retiree benefits and pay for an unemployment benefits extension by spreading savings across the current 10-year budget window. The legislation also exempts Medicare providers from further cuts and includes specific language to ensure that sequestration of defense resources is not increased.

“Our bill is a sensible measure that not only fixes the COLA reduction for military retirees that was in the budget, but also fully pays for it,” Senator Hoeven said. “In addition, it also pays for the extension in Unemployment Insurance benefits to ensure that we don't increase the nation’s deficit or debt.”

Along with Hoeven, the bill is sponsored by Senators Dean Heller (R-NV), Susan Collins (R-ME), Rob Portman (R-OH), Kelly Ayotte (R-NH), Dan Coats (R-IN), Lisa Murkowski (R-AK) and Johnny Isakson (R-GA).