Press Releases

“There is much misinformation making its way around the Internet about the contents of the budget agreement that the House passed last night.  The budget agreement negotiated between the House and the Senate stops most of the military cuts that were soon to hit the Commonwealth as a result of the sequester.  A George Mason University study estimates that the full sequestration’s defense cuts would have resulted in Virginia losing 136,191 jobs.  George Mason University has also estimated that the full defense spending cuts in the sequester would have resulted in the Commonwealth losing 65,000 small business jobs.

“Further, it is important to note that this agreement does not impact pensions for disabled military retirees or those over the age of 62.  What it does in fact do is reduce the potential cost of living adjustment (COLA) increase for working-age military retirees by 1 percentage point less than the increase in consumer prices.  This would be gradually phased in over three years.  This gradual phase-in means that the potential December 2014 COLA would be reduced by .25 percent, the potential December 2015 COLA would be reduced by .5 percent, and the full change would take place with the potential December 2016 COLA.

“Again, this budget agreement is a compromise.  If I had it my way, this agreement would be different.  But the Democrats are in control of the Senate.  President Obama and Senate Democrats have refused to take serious action to reduce our debt and our deficits, and this agreement is not a complete solution to the problem.  But it is a step in the right direction.  It contains lower spending levels than in previously-passed House budgets commonly known as the Ryan plan, and would reduce the deficit by $23 billion.  This agreement represents the first budget passed by Congress since I was sworn in to the serve Virginia’s Ninth District. 

“I am ready and willing to continue the fight for additional reforms, leading to a balanced budget and further reductions in our debt and deficit.”