Iowa Senator Chuck Grassley says he and his colleagues are looking for ways to restore several billion dollars in pay to some military retirees, pay that was cut in the federal budget bill that passed in late December. Grassley, a Republican, says the budget trimmed the COLA — or cost of living adjustment — to military retirees who are under the age of 62.
Grassley says, “I support restoring the cost of living adjustment but the real issue is going to be finding some way to pay for it.” Grassley says cutting the pay to retirees unfairly changes the rules in the middle of the game for people who have honorably served their country.
Still, he’s not sure how restoring the COLA payments will be accomplished, as the original cuts were supposed to save about 6 billion dollars. Grassley says, “I think there will be an alternative that I can support that will pay for it in a way that is a legitimate pay-for.”
Senators voted unanimously on Monday to advance the bill that would reverse the pay cut for military retirees. Grassley expects a final vote on the measure this week.