Association of the United States Army: New Bill Seeks to Increase Cost of Living Benefit for Veterans

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Family Programs Update

Family Programs >> Legislation for Army Families >> New Bill Seeks to Increase Cost of Living Benefit for Veterans

New Bill Seeks to Increase Cost of Living Benefit for Veterans
03/04/2008

Senator Daniel K. Akaka (D-HI) has introduced legislation to increase veterans' compensation through a cost of living adjustment (COLA). The COLA is designed to offset inflation and other factors that alter the cost of living over time. The Veterans' Compensation Cost of Living Adjustment Act of 2008 (S 2617) directs the Secretary of Veterans Affairs to increase, as of December 1, 2008, the rates of veterans' disability compensation, dependency and indemnity compensation for surviving spouses and children, and additional related benefits. The rate of the COLA increase for veterans will match the annual increase provided to Social Security recipients. The legislation, which has bipartisan support, was introduced on February 8, 2008.

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