The U.S. House of Representatives on May 22 approved bipartisan legislation introduced by U.S. Sen. Jerry Moran (R-KS) that would increase U.S. Department of Veterans Affairs (VA) compensation benefits for America’s military veterans. The bill now heads to the president’s desk for action.
“I appreciate my colleagues working to pass this legislation, and I look forward to it being signed into law,” Sen. Moran said.
The House-approved Veterans’ Compensation Cost-of-Living Adjustment (COLA) Act of 2023, S. 777, also would increase the VA rates of dependency and indemnity compensation for the survivors of certain disabled veterans, according to the text of the bill.
Sen. Moran on March 14 signed on as the lead original cosponsor of S. 777, along with 9 other original cosponsors, including U.S. Sens. Bill Cassidy (R-LA), Thom Tillis (R-NC), and bill sponsor U.S. Sen. Jon Tester (D-MT).
“We have a responsibility to take care of our veterans and their families, many of whom rely on the VA for financial support,” said Sen. 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.”
Specifically, S. 777 would increase certain VA benefits, including disability compensation, clothing allowances, and dependency and indemnity compensation for surviving spouses and children that would reflect increases in the cost of living, according to a bill summary provided by Sen. Moran’s office.
“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,” Sen. Tester said. “I urge the president to sign our bipartisan bill into law without delay.”
The cost-of-living adjustment will be determined by the annual COLA adjustment to Social Security benefits, as determined by the Social Security Administration (SSA), and would go into effect Dec. 1. The SSA bases the annual COLA adjustment on the Consumer Price Index, as determined each December by the U.S. Labor Department’s Bureau of Labor Statistics.