WASHINGTON, D.C.-U.S. Senator Susan Collins today released this statement regarding the Senate vote on the bipartisan budget agreement.
"This budget agreement, while far from perfect, will finally help restore regular order and create certainty that has been sorely lacking for far too long. It has been four years since the House and Senate have reached an agreement on a budget that sets priorities for federal spending and revenues. While the two-year budget agreement worked out between Senator Murray and Congressman Ryan is not what I would have written, it is a step in the right direction. It will prevent Congress from lurching from crisis to crisis, avoids the across-the-board, meat-ax, cuts known as sequestration, and will allow the Appropriations Committee, of which I am a member, to do its job of developing bills to responsibly fund the government within agreed to limits.
"It is critical that Congress continue to work to bring spending under control. Our national debt now stands at an almost incomprehensible $17.2 trillion. This sum, along with rising interest payments, is our legacy to future generations and simply must be responsibly addressed. This agreement will save $23 billion over the next ten years and help prevent government shutdowns over the next two years.
"The agreement will also spare the Department of Defense from some of the devastating sequestration cuts that could cripple military readiness and affect thousands of defense-related jobs that are vital to our economy in Maine and in the United States. It also begins to address the harmful impact of indiscriminate cuts to vital programs such as transportation, education, and biomedical research.
"I am, however, very disappointed that this agreement includes a reduction in the annual cost of living increase for retired military members who are still of working-age. We must do everything that we can to honor their service and sacrifice of the brave men and women who have served our country so they continue to have access to the benefits they worked so hard to earn and were promised to them. The provision in this bill is not the way to make such significant changes to military retirement.
"In 2012, I was a member of the Armed Services Committee when we created the Military Retirement and Compensation Modernization Commission with the precise purpose of comprehensively examining this issue in a thorough way that protects current retirees and ensures that the military retirement system is offering the right incentives to recruit and retain the most qualified and experienced service members at a time of budget constraints.
"I have raised my concerns with my colleagues about the military retirement provision in this agreement and am committed to working to ensure that this issue is addressed before it is set to take effect in January 2016. The Chairman of the Armed Services Committee has already committed to reviewing this change at the start of next year. I intend to do everything I can, in conjunction with the leadership of the Armed Services Committee, to identify an alternative to the provision in the agreement that would provide the same level of savings while protecting current retirees.
"The American people are tired of watching a Congress that can't work. We saw the result of this dysfunction when the government shutdown in October. That is why I worked so hard to forge a compromise that helped get Congress functioning again. We simply must avoid another shutdown and put our nation back on a sound financial footing. I am hopeful that this agreement will be the first steps on a responsible path forward."