Veterans’ Compensation Cost-of-Living Adjustment Act of 2024

12/23/2024, 7:02 PM

Veterans' Compensation Cost-of-Living Adjustment Act of 2024

This act requires the Department of Veterans Affairs (VA) to increase the amounts payable for wartime disability compensation, additional compensation for dependents, the clothing allowance for certain disabled veterans, and dependency and indemnity compensation for surviving spouses and children. Specifically, the VA must increase the amounts by the same percentage as the cost-of-living increase in benefits for Social Security recipients that is effective on December 1, 2024. The bill requires the VA to publish the amounts payable, as increased, in the Federal Register.

The VA is authorized to make a similar adjustment to the rates of disability compensation payable to persons who have not received compensation for service-connected disability or death.

Bill 118 hr 7777, also known as the Veterans’ Compensation Cost-of-Living Adjustment Act of 2024, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to provide a cost-of-living adjustment (COLA) for veterans who receive disability compensation from the Department of Veterans Affairs.

If passed, this bill would ensure that veterans who are receiving disability compensation would see an increase in their benefits to account for the rising cost of living. This adjustment would help to ensure that veterans are able to maintain their standard of living and meet their financial needs.

The bill is bipartisan in nature and has received support from both Democrats and Republicans in Congress. Supporters of the bill argue that it is important to provide veterans with the support they need to live comfortably and with dignity. They believe that the sacrifices made by veterans in service to their country should be recognized and rewarded. Opponents of the bill have raised concerns about the potential cost of providing a COLA for veterans’ compensation. They argue that the government should be cautious about increasing spending on benefits programs, especially in light of the country’s current fiscal challenges. Overall, the Veterans’ Compensation Cost-of-Living Adjustment Act of 2024 is an important piece of legislation that aims to support and honor the service of our nation’s veterans. It is currently being debated in Congress, and its fate will ultimately be decided by lawmakers in the coming months.
Congress
118
Number
HR - 7777
Introduced on
2024-03-21
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
Passed in House
Introduced to Senate
Passed in Senate
To President
Signed by President
Became Public Law

Purpose and Summary

Veterans' Compensation Cost-of-Living Adjustment Act of 2024

This act requires the Department of Veterans Affairs (VA) to increase the amounts payable for wartime disability compensation, additional compensation for dependents, the clothing allowance for certain disabled veterans, and dependency and indemnity compensation for surviving spouses and children. Specifically, the VA must increase the amounts by the same percentage as the cost-of-living increase in benefits for Social Security recipients that is effective on December 1, 2024. The bill requires the VA to publish the amounts payable, as increased, in the Federal Register.

The VA is authorized to make a similar adjustment to the rates of disability compensation payable to persons who have not received compensation for service-connected disability or death.

Bill 118 hr 7777, also known as the Veterans’ Compensation Cost-of-Living Adjustment Act of 2024, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to provide a cost-of-living adjustment (COLA) for veterans who receive disability compensation from the Department of Veterans Affairs.

If passed, this bill would ensure that veterans who are receiving disability compensation would see an increase in their benefits to account for the rising cost of living. This adjustment would help to ensure that veterans are able to maintain their standard of living and meet their financial needs.

The bill is bipartisan in nature and has received support from both Democrats and Republicans in Congress. Supporters of the bill argue that it is important to provide veterans with the support they need to live comfortably and with dignity. They believe that the sacrifices made by veterans in service to their country should be recognized and rewarded. Opponents of the bill have raised concerns about the potential cost of providing a COLA for veterans’ compensation. They argue that the government should be cautious about increasing spending on benefits programs, especially in light of the country’s current fiscal challenges. Overall, the Veterans’ Compensation Cost-of-Living Adjustment Act of 2024 is an important piece of legislation that aims to support and honor the service of our nation’s veterans. It is currently being debated in Congress, and its fate will ultimately be decided by lawmakers in the coming months.
Alternative Names
Official Title as IntroducedTo increase, effective as of December 1, 2024, the rates of compensation for veterans with service-connected disabilities and the rates of dependency and indemnity compensation for the survivors of certain disabled veterans, and for other purposes.
Policy Areas
Armed Forces and National Security
Potential Impact
Administrative law and regulatory procedures•
Department of Veterans Affairs•
Disability assistance•
Inflation and prices•
Veterans' pensions and compensation

Comments

APPROVED
SZ
Stella Zhu
@lemon_verbena_fig_celery92196
I do not support this bill. It will negatively impact me and other veterans. Those who benefit from it are not the ones who have sacrificed for our country.
APPROVED
LG
Leila Goldstein
@crumpet_paratha_herbes_de_provence67844
This bill is gonna change things for us vets. Wonder who else is gonna feel the impact?
APPROVED
RE
Raylan Eaton
@radish_kumquat_taro69531
This bill sucks, how will it affect me in the short term?

Recent Activity

Latest Summary9/12/2024

Veterans' Compensation Cost-of-Living Adjustment Act of 2024

This act requires the Department of Veterans Affairs (VA) to increase the amounts payable for wartime disability compensation, additional compensa...

Latest Action11/25/2024
Became Public Law No: 118-130.