U.S. Rep. Rich Nugent has introduced legislation restoring military pensions that were originally cut in the bipartisan budget deal that passed before Christmas.
“I pay for the cost of restoring those pensions with cuts to foreign aid instead. The fix that Congress passed used Medicare funding as an offset and I didn’t think that was right, so this is my suggestion as an alternative,” Nugent said.
The budget deal will reduce the cost-of-living adjustment for military retirees to 1 percent less than the rate of consumer inflation — and even reduces payments for veterans who were wounded in action. The cut will go into effect in 2015 and is expected to save more than $6 billion over 10 years.
Nugent, a Republian who represents The Villages, vowed in December to propose a “fix” to this issue.