COLA 2013

Posted: August 19, 2012 in Uncategorized

Veterans will receive a cost-of-living increase in their disability benefits if the bill passed 9 JUL in the House receives the same treatment in the Senate. The Veterans' Compensation Cost-of-Living Adjustment Act of 2012 passed the House on a voice vote. It would provide a cost-of-living boost equal to that given to Social Security recipients. Rep. Jon Runyan (R-N) introduced the bill. After it passed, he said, "Congress knows that veterans are dependent upon us acting in a timely manner with regards to their needs. By acting on the yearly COLA this summer instead of waiting until the last minute, we tell America's veterans that we remain dedicated to ensuring that they are given the benefits they were promised when they signed up to serve." If passed by the Senate and signed by the president, the law will go into effect 1 DRC 2012. A press release from the House Committee on Veterans' Affairs estimates the COLA for this year will be approximately 1.9 percent. Runyan has also introduced the American Heroes COLA Act, which would put in place a permanent COLA like that for Social Security recipients. That legislation has been passed out of the Veterans' Affairs Committee and is awaiting vote by the full House. [Source: NGAUS Washington Report 10 Jul 2012 ++]


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