Sens. John McCain and Kelly Ayotte are among the GOP sponsors of a bill to replace automatic defense cuts with other spending reductions.
Updated: 6:55 p.m.
Senate Armed Services ranking member John McCain and four Republican colleagues are scheduled Thursday to unveil legislation that would replace with other spending reductions the sequestered defense cuts mandated by the failure of the Joint Committee on Deficit Reduction.
The Arizona Republican has said for a while that the legislation was in the works, and a news release describes the bill as one that would “replace spending ‘sequestration’ with more responsible cuts to federal spending.”
Leaders from military and veterans service organizations joined Sens. Roger Wicker, R-Miss., Kelly Ayotte , R-N.H., and Lindsey Graham, R-S.C., at a press conference to urge the Senate to replace a provision in the budget proposal that cuts retirement benefits for veterans. Wicker, Ayotee, and Graham earlier called for a bipartisan solution to replace the $6.3 billion in cuts to military retiree benefits.
Each year since 1990, CQ Roll Call has reviewed the financial disclosures of all 541 senators, representatives and delegates to determine the 50 richest members of Congress. This year's report, derived from forms covering the calendar year 2012, shows it took a net worth of $6.67 million to crack the exclusive club.