In Their Own Words: On military pension cuts, all together now
Republican Sen. Kelly Ayotte has gotten a lot of ink in recent days for her decision to vote against the federal budget deal because it included cuts to cost-of-living adjustments for military retirees. Less noted, however, is that the Democratic members of New Hampshire’s congressional delegation – all of whom voted for the budget measure – now say that they, too, are determined to undo the COLA cuts. All three are supporting a plan to replace the cuts with a measure to close corporate loopholes. Here’s what they have to say about it:
Sen. Jeanne Shaheen: I introduced legislation – the Military Retirement Restoration Act – with 15 of my colleagues to replace the military retiree benefit cuts by closing a tax loophole that some corporations use to avoid paying their fair share of taxes. These corporations set up shell entities in tax havens to avoid being considered an American company, even though they are controlled and operated on American soil. I think most Americans would agree that this kind of tax avoidance is unfair and that we should close this tax loophole rather than reducing military retiree benefits.
This is just one idea. I am open to other solutions, and hope we can work in a bipartisan way to replace these cuts to military retirees’ benefits in a smart way.
Second District Rep. Annie Kuster: The bipartisan budget agreement will help end the cycle of manufactured crises that has slowed our economy and harmed middle-class families, but it’s far from perfect. Congress should work to replace the cost-of-living adjustment changes included in this deal – and that’s exactly what this common-sense legislation will do. I urge my colleagues on both sides of the aisle to support this common-sense fix.
First District Rep. Carol Shea-Porter: The Bipartisan Budget Act would prevent another government shutdown, create jobs and reduce the deficit, but it is not perfect. I’m introducing a bill to cancel the reduction in the cost-of-living adjustment for military retirees under the age of 62, which is scheduled to start in 2015. The bill is fully paid for by eliminating a tax loophole for offshore corporations.