NBC Montana: Senate passes cost-of-living increase for veterans

MISSOULA, Mont. — The U.S. Senate unanimously passed the bipartisan Veterans’ Compensation Cost-of-Living Adjustment Act of 2023.

Senate Veterans’ Affairs Committee Chairman Jon Tester and ranking member Jerry Moran are teamed up to get the bill passed.

“Montanans proudly serve in our armed forces at one of the highest rates in the country. These veterans put their lives on the line to defend our freedoms, and their families made sacrifices too,” said Tester. “These veterans and survivors, who depend on VA benefits, deserve certainty when it comes to providing for their families. Our bill directs VA to increase veterans’ compensation, so that folks across the country—including 30,000 disabled veterans and survivors in my home state of Montana—get the support they need to stay afloat.”

Tester continued, “At a time when many Montanans are struggling with rising costs, from housing to healthcare to groceries, this cost-of-living increase will help give our veterans a little more peace of mind. Today, we have the opportunity to put political differences aside, and come together for the men and women who risked their lives for this country. Let’s pass this bill.”

This act will increase rates of compensation for veterans with service-related disabilities and military survivors under the VA.

Funding will come from the U.S. Treasury. The bill would increase certain benefits including disability and dependent compensation, clothing allowances, and compensation for surviving spouses and children to reflect increases in the cost of living.

It will be based on the annual compensation cost of living adjustment to social security benefits.

“To expect these folks who have served our country not to be able to have a decent disability payment is not right. And it’s not what we promised them when they signed up. And so this ensures that the cost of living increase is going to happen. It gives predictability to our veterans which is very, very important as they’re trying to pay their bills,” said Tester.

Senate passes cost-of-living increase for veterans | KECI (nbcmontana.com)