Republican North Carolina Rep. Ted Budd will propose an amendment Friday that would increase service member pay to match the 8.6% Consumer Price Index (CPI) inflation rate.
The amendment, first obtained by the Daily Caller, is to the 2023 National Defense Authorization Act (NDAA). The NDAA currently raises troop pay by 4.6% and an amendment from Democratic Maine Rep. Jared Golden added an additional 2.4% inflation bonus for certain low-income service members. That increase fails to meet the 8.6% increase in the CPI for May 2022.
Budd’s amendment would raise Golden’s provision by 1.6% so service members’ pay matches that 8.6% increase in the CPI.
“Congress should not stand by while Joe Biden’s inflation eats away at the pay of our servicemembers. My amendment ensures that the pay raise for our troops covers the increased prices at the grocery store and at the pump,” Budd told the Daily Caller before introducing the amendment.
READ THE AMENDMENT HERE:
In June, consumer prices reached the highest rates in four decades, according to the Bureau of Labor Statistics. (RELATED: EXCLUSIVE: Rep. Johnson Vying To Get Biden Admin To Clear More Military Members Of Vaccine Mandate)
The 12-month increase was the largest since 1981, according to the Bureau of Labor Statistics (BLS). (RELATED: ‘Hidden Tax’: Inflation Runs Rampant After Biden Skirts Blame On Rising Costs)
Budd plans on introducing the amendment late Friday afternoon, he added.