According to reports, the Senate deficit-cutting plan proposed by the “Gang of Six” requires a reduction in retiree COLA and demands that the armed services committees make $80 billion in cuts to military compensation and benefits over the next decade. The plan would require the Senate Armed Services Committee to determine how and where to cut military benefits or face across-the-board cuts in all “entitlements.”
In other words – the bipartisan Gang of Six is telling the Senate Armed Services Committee to make the cuts or they’ll do it for them.
The Gang of Six includes:
- Senator Mark Warner (D-VA)
- Senator Dick Durbin (D-IL)
- Senator Kent Conrad (D-ND)
- Senator Tom Coburn (R-OK)
- Senator Mike Crapo (R-ID)
- Senator Saxby Chambliss (R-GA)
Read more about the Gang of Six’s plan for reducing Retiree COLA.