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GOP bill would reduce federal retiree benefits to offset defense cuts
Two Republican lawmakers have introduced a proposal that would require federal employees to contribute more of their salary toward retiree benefits in order to offset deep cuts to the Defense Department. The “Provide for the Common Defense Act,” introduced by Reps. Jim Bridenstine, R-Okla., and Doug Lamborn, R-Colo., would eliminate sequester-related budget cuts for the Pentagon over the next two years, the lawmakers said in a statement. The legislation increases federal employee’s contributions toward their retirement costs, from 0.8 percent to 2.0 percent of pay, over a three-year period...Read More
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