Washington, D.C.— Congressman Tom Rice (SC-07) today cosponsored legislation that would replace the budget plan’s reductions to military retiree benefits by closing a commonly-abused loophole in the tax code. H.R. 3788, introduced by Congressman Mike Fitzpatrick (PA-8), could still achieve the $6 billion in savings accomplished in the budget plan.
“The government made a contract with our veterans and it must honor this contact,” said Congressman Rice. “Our military retirees and their families have sacrificed so much for our country; the government should not sacrifice their promised benefit for the sake of savings. I am proud to cosponsor this bill because it closes an egregious loophole in our tax system. We must continue to look for additional ways to curb government spending, but not at the expense of our veterans.”