GOP Mulls Raising Debt Limit, Undoing Pension Cut
WASHINGTON (AP) — House Republican leaders are gauging interest in a plan to reverse a recently passed cut to military pensions as the price for increasing the government’s borrowing cap, trying to discern whether its rocky reception from skeptical conservatives can be overcome with Democratic votes.
GOP leaders briefed GOP lawmakers at a meeting in the Capitol on Monday in hopes of passing it Wednesday before departing Washington for a more-than-weeklong vacation. It’s unclear whether the vote would still go forward after it was rejected by many conservatives.
The GOP bill would extend Treasury’s borrowing authority for at least another year, repeal the curb passed in December on pension inflation adjustments for military retirees under the age of 62, and extend automatic cuts to Medicare and other programs to 2024.