According to the Congressional Research Service, this bill "repeals a provision of the Bipartisan Budget Act of 2013 that reduces the cost-of-living adjustment to the retirement pay of members of the Armed Forces under age 62.

The Consolidated Appropriations Act, 2014 exempted disability retirees and certain survivors from this reduction of one percent, which reduced the savings associated with that provision to $5,662 million over that same period.

While those payments count against discretionary budget caps, they are intragovernmental transactions, and the exact amounts would be determined by the Department of Defense Office of the Actuary.

70, the Concurrent Resolution on the Budget for Fiscal Year 2009, CBO estimates that S. 1963 would increase direct spending by more than $5 billion in at least one of the four consecutive 10-year periods beginning in 2024.

[1] Senator Pryor, who introduced the bill argued that "there is no question that we need to cut our spending, but we must do it responsibly... We cannot balance the budget on the backs of our service members.