Cramer: Veterans Compensation Bill Ensures Annual Increases Without Legislative Action

Press Release

Congressman Kevin Cramer released the following statement about H.R. 5588 - the Veterans' Compensation COLA Act of 2016, which was passed by the House of Representatives this week. The bill links cost of living allowance (COLA) increases for veterans to COLA increases for Social Security recipients. This includes disability compensation, compensation for dependents, clothing allowance, and surviving spouse benefits. Social Security recipients automatically receive annual COLA increases determined by the executive branch, based on the Consumer Price Index. With the passage of this bill, COLA rate changes for veterans will no longer require legislative action.

"The point of the bill is to permanently tie together the two rate increases to avoid any potential payout stall for veterans and their dependents. This bill gives veterans and their families the peace of mind that they deserve as they plan their financial futures. Many veterans depend on these benefits to assist with their housing, food, and other necessities, so it is essential they keep up with the cost of living. This is the least we can do for our veterans."

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