Veterans’ Compensation Cost-of-Living Adjustment Act of 2014by Representative Ann Kirkpatrick
Posted on 2014-09-16
KIRKPATRICK. Mr. Speaker, I yield myself such time as I may
Mr. Speaker, last week the Senate passed S. 2258, the Veterans' Compensation Cost-of-Living Adjustment Act of 2014, which provides that veterans receive a cost-of-living adjustment beginning in December. Today, the House [[Page H7588]] can also act to ensure veterans continue to receive the support they deserve.
This is a bill that we must pass every year in order to ensure that the benefits we pay our veterans do not lose purchasing power because of inflation. Today we have the opportunity to pass this measure and send it to the President's desk.
This bill directs the VA to increase the rates of veterans' disability compensation, provide additional compensation for disabled veterans with dependents, ensure certain disabled veterans receive a clothing allowance, and increase dependency and indemnity compensation for surviving spouses and children. These adjustments would be made effective December 1, 2014, and match the increase in Social Security benefits.
S. 2258 will assist the estimated 4.5 million veterans and survivors who receive these monthly benefits and often depend upon these payments to make ends meet. For some, it is their only source of income.
Without this annual COLA increase, veterans, their families and survivors, would see the value of their hard-earned benefits slowly erode. Providing for this cost-of-living increase is another important thing Congress can do to help veterans and their families that have already sacrificed so much for us.
I urge my colleagues to support S. 2258, and I reserve the balance of my time.