Press Release
VETERANS COMPENSATION COST-OF-LIVING ADJUSTMENT LEGISLATION SENT TO WHITE HOUSE
WASHINGTON, D.C. – Following unanimous approval by the House and Senate,
Congress is sending S. 407, the Veterans’ Compensation Cost-of-Living Adjustment
Act of 2009 to the White House.
If approved by President Barack Obama, S. 407 would protect the value of
compensation for veterans and their survivors from potential inflation.
“Millions of disabled veterans and their survivors rely on monthly compensation,
and the value of their payments should be protected from potential inflation,”
said Senate Veterans’ Affairs Committee Chairman Daniel K. Akaka (D-HI), author
of the bill.
The Bureau of Labor Statistics uses the Consumer Price Index (CPI) to measure
inflation. In the event that the CPI increases, S. 407 would direct the
Secretary of Veterans Affairs to increase, as of December 1, 2009, the rates of:
• Veterans’ disability compensation,
• Dependency and indemnity compensation for surviving spouses and children, and
• Additional related benefits. The cost of living adjustment (COLA) is designed
to offset inflation. If the CPI increases, COLA for the above-mentioned
benefits would match the annual increase provided to Social Security recipients.
This year’s COLA rate has not been determined, and some predict that the CPI
will decrease this year.
In the event of a decrease in the CPI, veteran and survivor compensation will
remain at last year’s rate. For more information on the Consumer Price Index,
visit the Bureau of Labor Statistics’ website,
www.bls.gov/cpi http://www.bls.gov/cpi
http://www.govtrack.us/congress/billtext.xpd?bill=s111-407
http://www.veteransadvantage.com/news/VeteransCompensationCost-of-LivingAdjustmentAct2009.html
On Thu, 9 Jul 2009 08:02:22 -0400, YNCS Don Harribine, USN(ret)
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