Bill to adjust cost-of-living for disabled veterans sent to President for signature

Published: May. 30, 2023 at 1:50 PM CDT
Email This Link
Share on Pinterest
Share on LinkedIn

TOPEKA, Kan. (WIBW) - A bill to adjust the cost-of-living compensation for veterans who use disability funds from the Department of Veterans Affairs has been sent to the President for his signature.

U.S. Senator Jerry Moran (R-Kan.) says that he joined Sen. Jon Tester (D-Mont.) to introduce the bipartisan Veterans’ Compensation Cost-of-Living Adjustment Act of 2023. He said the bill passed the House and Senate and was sent to the desk of President Joe Biden for his signature.

Moran noted that the bill will increase compensation benefits for veterans who have been disabled as a result of their time in service and military survivors under the Department of Veterans Affairs.

“We have a responsibility to take care of our veterans and their families, many of whom rely on the VA for financial support,” said Ranking Member Moran. “Ensuring their benefits keep pace with rising costs and inflation will help provide disabled veterans and certain surviving spouses and children with some peace of mind and provide them the stability they deserve. I appreciate my colleagues working to pass this legislation, and I look forward to it being signed into law.”

The Senator indicated that the legislation would increase certain benefits including disability compensation, clothing allowances and dependency and indemnity compensation for surviving spouses and children to reflect increases in the cost of living. It will benefit millions of disabled vets and military survivors around the nation.

“We’re at the finish line when it comes to delivering a cost of living increase for the 30,000 disabled veterans and survivors in my home state of Montana, giving these folks—and millions more across the country—a little peace of mind as they struggle to keep pace with rising costs,” said Chairman Tester. “Our veterans put their lives on the line to defend our freedoms, and they deserve certainty when it comes to providing for their families. On behalf of these brave men and women, I urge the President to sign our bipartisan bill into law without delay.”

Moran said the cost-of-living adjustment will be decided by the annual COLA adjustment to social security benefits - as decided by the Social Security Administration - and would go into effect on Dec. 1. The COLA adjustment is based on the Consumer Price Index which is decided each December by the Labor Department’s Bureau of Labor Statistics.

To read the full text of the legislation, click HERE.