Cochran Votes to Restore Military Retirement Benefits

Press Release

U.S. Senator Thad Cochran (R-Miss.) today voted to restore military retirement benefits that were enacted as part of the so-called Murray-Ryan budget deal that the Senator opposed late last year.

Cochran, vice chairman of the Senate Defense Appropriations Subcommittee, voted for House-passed legislation to repeal a provision of the Bipartisan Budget Act of 2013 that reduced the cost-of-living adjustment (COLA) for the retirement pay of members of the Armed Forces. The bill will protect military retirement COLAs from reductions that would have affected military personnel under age 62 starting Dec. 1, 2015.

"This legislation corrects a misstep. The men and women of our Armed Forces should not bear the brunt of our efforts to take control of the national debt. It's a matter of fairness and keeping our commitments to them," said Cochran, who opposed the Murray-Ryan budget agreement in December because in part, it used reductions to the veterans' COLA to offset an increase in spending.

Like legislation and amendments cosponsored by Cochran to restore the COLA reductions, the bill approved by the Senate on Wednesday fully offsets the $6.8 billion cost of restoring the benefits. The offset would extend the 2011 Budget Control Act sequester policy on mandatory spending to 2024.

The legislation will now be sent to the President for his consideration.

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