Senators vow COLA cap repeal; grocery price increases considered [View all]

[unhappycamper]

http://www.thenewstribune.com/2014/02/01/3022956/senators-vow-cola-cap-repeal-grocery.html

Senators vow COLA cap repeal; grocery price increases considered
By TOM PHILPOTT
Contributing Writer
February 1, 2014

Democrats and Republicans on the Senate Armed Services Committee vowed Tuesday to clear with unusual speed a bill to roll back the cap on cost-of-living adjustments for military retirees under age 62, long before it can ding anyone’s retired pay or cause more damage to troop morale.

“It is our intention and belief that it should be immediately repealed, and as soon after (saying) ‘immediately’ as is humanly possible in a legislative body,” said Sen. Carl Levin, committee chairman.

“You guys have already won,” Sen. James Inhofe of Oklahoma, ranking Republican, assured military association leaders who testified against the recent devaluation of military retirement as part of the Bipartisan Budget Act.

At the same hearing, senior Defense officials said for the first time since the COLA cap became law that they too want all retirees and the current force protected from it and any future changes to retirement.