Blumenthal, Shaheen File Amendment To Unemployment Insurance Extension Legislation That Would Preserve Benefits For Military Retirees By Closing Corporate Tax Loopholes

(Washington, DC) – Today, U.S. Senator Richard Blumenthal (D-Conn.) and U.S. Senator Jeanne Shaheen (D-N.H.) filed the Military Retirement Restoration Act as an amendment to the unemployment insurance extension bill. The amendment would preserve military retiree benefits – benefits that were cut by provisions in the bipartisan budget deal the Senate passed last month – by closing certain corporate tax loopholes.

Blumenthal said, “We should seize this first opportunity to restore last month’s cut in benefits for military retirees – reversing unfair, unfortunate reductions that dishonor and diminish our debt to veterans. These benefits could easily be restored by closing certain corporate tax loopholes, as our amendment would do. Our brave patriots who have served and sacrificed for our country should receive the full benefit of present cost of living adjustments. This amendment fixes one of the glaring flaws in the budget agreement, which enhanced economic certainty but regrettably cut these benefits.”