(U.S. Senate) – The Senate today unanimously passed the Veterans’ Compensation Cost-of-Living Adjustment (COLA) Act of 2022—bipartisan, bicameral legislation championed by Senate Veterans’ Affairs Committee Chairman Jon Tester (D-Mont.) and Ranking Member Jerry Moran (R-Kan.) to increase the rates of compensation for veterans with service-connected disabilities and military survivors under the Department of Veterans Affairs (VA).
“We have a responsibility to ensure veterans’ benefits are keeping pace with a changing economy,” said Tester. “That’s why I’m glad the Senate unanimously passed this bipartisan bill that’ll do just that—providing veterans and their families from every corner of the country with the support they need and earned.”
“We have a duty to take care of our veterans, many of whom rely on the VA for financial support,” said Moran. “This legislation is more important than ever, as high inflation is driving up the cost of living, and this bill will help make certain the benefits provided by the VA are effective in this changing economy.”
The Senators introduced companion legislation to the Veterans’ Compensation Cost-of-Living Adjustment (COLA) Act of 2022 in the Senate to increase certain VA benefits including disability compensation, clothing allowances, and dependency and indemnity compensation for surviving spouses, parents, and children. The cost-of-living adjustment will be determined by the annual COLA adjustment to Social Security benefits, as determined by the Social Security Administration, and would go into effect December 1, 2022. The Social Security Administration bases its annual COLA adjustment on the Consumer Price Index, as calculated by the Department of Labor’s Bureau of Labor Statistics.
Staunch advocates of delivering veterans stronger benefits, Tester and Moran recently introduced the Veterans Medical Mileage Adjustment Act of 2022—bipartisan legislation to increase the VA’s mileage reimbursement rate for eligible veterans who travel more than seven miles for VA health care appointments.