Adding Cost of Living Adjustments to Veterans Benefits
By Swogger Bruce & Millar, Oct 19 2018 02:42PM
The Veterans Compensation Cost of Living Adjustment Act of 2018 aims to temporarily fix a common problem for veterans; benefits have stayed the same while cost of living and inflation rise. Veterans benefits are effectively cut each year that Congress does not pass a COLA bill. Earlier this year, Congressman Mike Bost submitted the new bill; he is the Chairman of the Disability Assistance and Memorial Affairs subcommittee. The bill directs the Department of Veterans Affairs to increase benefits as of December 1, 2018, using the same COLA used by the Social Security Administration.
Congresswoman Elizabeth Etsy said that “ensuring our heroes’ benefits keep pace with the rising cost of living is the least we can do for them. With a cost of living adjustment, we will be able to put more dollars in the hands of the men and women who served our nation. Congressman Bost stated “it’s vitally important that we ensure the men and women who have served our nation receive the benefits they have earned.
In my opinion, a COLA increase should automatically be granted to our veterans each year. While not going as far as I would like, this stopgap bill is still important to show our support for those that risked their lives to defend us.
Congressman Bost obtained five bi-partisan co-sponsors, and the bill passed the House of Representatives on May 21, 2018. The bill is now being considered by the Senate’s Committee on Veterans’ Affairs. Please consider contacting your Senator to show your support for this bill and our veterans.