Medal of Honor recipients would see their pensions increase 6-fold under new proposal [Video]

EXCLUSIVE: A new, bipartisan, bicameral bill would boost pensions for Medal of Honor recipients six-fold. 

The legislation, reintroduced by Texas Republicans Rep. Troy Nehls and Sen. Ted Cruz and New Hampshire Democrat Rep. Chris Pappas, would bring pay for those who receive the nation’s highest military award from $16,880 per year to $100,000 per year. 

Proponents of the bill say the pay would ease the financial burden for medal recipients who often traverse the country for speaking engagements on their own dime.

The legislation would affect the 60 living Medal of Honor recipients. Some 3,500 have been awarded the medal since its inception in 1863.

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Pension rolls for Medal of Honor recipients were first created in 1916, with pensioners receiving $10 per month from the federal government. The monthly stipend was raised to $100 in 1961 and $1,000 in 2002. 

“I’m proud to reintroduce the Medal of Honor Act …