SHAHEEN TO INTRODUCE LEGISLATION UNDOING MILITARY COLA CHANGES IN BUDGET DEAL

Bill would close select corporate tax loopholes to preserve military retiree benefits

December 17, 2013

(Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH) today will introduce legislation that would safeguard military retirees from changes in cost of living adjustments that are expected to be passed later this week when the Senate passes a bipartisan budget agreement. Shaheen’s proposal would be fully paid for by eliminating select corporate tax loopholes.

“This bipartisan budget agreement will create economic certainty for small businesses, help promote job creation, and protect our country from another government shutdown but like I’ve said before, it’s not perfect,” Shaheen said. “The plan I am going to introduce will undo changes to future cost of living adjustments for military retirees and will instead achieve savings by closing corporate tax loopholes. It’s a smart, pragmatic fix and I hope it will generate bipartisan support.”

Shaheen’s legislation will be introduced later today.