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House votes to repeal COLA caps

from Military Times

A measure that would repeal caps on annual increases in military retired pay recently steamed through the House, receiving well over the two-thirds majority required for fast-tracked legislation. The COLA caps are estimated to save $6 billion over 10 years. The House's repeal provision would offset the lost savings by extending sequestration on mandatory Medicare spending by one year, to 2024. more


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