February 12, 2014

Kaine Statement On Senate Vote To Repeal Military Pension Reductions For Current Servicemembers

WASHINGTON, D. C. – U.S. Senator Tim Kaine released the following statement after the Senate voted to repeal pension reductions for current servicemembers included in the Bipartisan Budget Act:

“Today the Senate came together to repeal pension reductions that would have harmed our veterans and military families. I have been fighting to repeal these reductions since December and I’m relieved we can now give military veterans and their families the peace of mind they deserve. I am disappointed that we chose to offset the cost of this bill by extending sequester cuts into later years because, in my view, we should have acted now to close unnecessary tax loopholes. An offset I proposed with Senator Warner would have replaced the military pension reduction for current and future retirees by closing a corporate tax loophole that allows offshore corporations to avoid paying their fair share of U.S. taxes. While this is by no means an ideal package, I’m pleased that we’re able to make things right for our nation’s military retirees.