"We are talking about people who are making over $1 million to pay a small sacrifice for this war where our military families are paying a huge sacrifice," said Rep. Jan Schakowsky, D-Ill.

The White House weighed in with an official veto promise Thursday that also attacked the Democratic plan for increasing taxes.

"The president has been clear that tax increases are unacceptable," the White House statement said.

In the simplest terms, the Webb bill would effectively pay for tuition and housing at a four-year public college for those serving at least three years of active duty. The McCain measure isn't as generous, as it increases existing education benefits by $400 a month for the same time served: from $1,100 to $1,500.

“My job is to get people to stay in the military, not only to join, but to stay as well,” McCain said, although he added that he will be sitting down with Webb to try to work out a compromise. He wants to make sure to include a component of his bill which is not in Webb bill that would allow for transferability of benefits to family members.

I have great respect for John McCain's service to this country and I know he loves it dearly and honors those who serve. But he is one of the few senators of either party who oppose this bill because he thinks it's too generous. I couldn't disagree more. At a time when the skyrocketing cost of tuition is pricing thousands of Americans out of a college education, we should be doing everything we can to give the men and women who have risked their lives for this country the chance to pursue the American Dream.