President Obama signs into law the debt-ceiling limit extension and the
military benefits bills
On Saturday, President Obama signed into law bills that will void the current debt-ceiling limit until March 15, 2015, and that will restore retirement benefits for military men and women who are 62 years old and younger.
The “Temporary Debt Limit Extension Act,” Senate bill S.540, will allow the Secretary of treasury to start with a new debt-ceiling limit so that he may pay the bills the country owes and that are due by March 15, 2015.
Senate bill S.25 restores the 1% cost-of-living adjustment (COLA), which was reduced by the 2013 Bipartisan Budget Act, to military retirees’ pay.
Senate bill S.25 also places $2.3 trillion in a fund for Medicare payments to physicians.
The “Temporary Debt Limit Extension Act,” Senate bill S.540, will allow the Secretary of treasury to start with a new debt-ceiling limit so that he may pay the bills the country owes and that are due by March 15, 2015.
Senate bill S.25 restores the 1% cost-of-living adjustment (COLA), which was reduced by the 2013 Bipartisan Budget Act, to military retirees’ pay.
Senate bill S.25 also places $2.3 trillion in a fund for Medicare payments to physicians.
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