BILL PASSED: Do You Support Cost of Living Benefits For Veterans? - Veteran's COLA Act - S.777

The Bill

S.777- Veteran's COLA Act

Bill Details

• Sponsored by Sen. Jon Tester (D-Mont.) on March 14, 2023
• Sen. Tester is the Senate Veterans’ Affairs Committee Chairman
• Committee: Senate - Veterans Affairs
• Became law on June 14, 2023 - Public Law No: 118-6

Bill Overview 

• The bipartisan legislation is an annual procedure for Congress, but it is vital in ensuring that veterans' benefits keep pace with inflationary costs.
• As of Dec. 1, the bill increases the rate of compensation for veterans with service-related injuries and indemnity compensation for the family members of the survivors of specific service-related injuries.
• Increases amounts payable for clothing allowances for certain disabled veterans. Veterans can expect to see higher benefit payments starting in Jan. 2024.
• To stay informed, subscribe to the #VetResources newsletter.

What's in the Bill?

A bipartisan bill to support veterans

• With costs of living rising, the bill provides compensation adjustments to support disabled veterans to meet their needs.

Brings benefits to the cost of living adjustment for Social Security

• The 2024 benefits will be equal to those applied to Social Security benefits, as determined by the Social Security Administration.

Benefits based on the Consumer Price Index

• The exact amount of next year's adjustment has not been determined.
• The Consumer Price Index (CPI) measures the average change in prices of goods and services due to inflation.
• The adjustment in Jan. 2023, for instance, which Veterans are currently receiving, saw an 8.7% increase over the year prior.

What Sponsors are Saying

• Sen. Tester said:

"At a time when folks are struggling with rising costs, from housing to groceries, veterans deserve absolute certainty when it comes to providing for their families. That's why I'm proud to have worked with my Republican and Democratic colleagues to deliver a cost of living increase to millions of disabled veterans and survivors across the country. As Chairman, I'll always fight to make sure the men and women who put their lives on the line get the support they need and earned."

• The Veterans' COLA Act is supported by The American Legion, Veterans of Foreign Wars, Disabled American Veterans, Paralyzed Veterans of America, AMVETS, Vietnam Veterans of America, Gold Star Wives, TAPS, Wounded Warrior Project, Military Officers Association of America, and Iraq and Afghanistan Veterans of America.

Do you support this new bill?

—Emma Kansiz 

(Photo Credit: Canva)