Washington, D.C. – Congressman Rick Berg announced the passage of the Veterans’ Compensation Cost-of-Living Adjustment Act of 2012 in the House. This legislation increases the amount paid to veterans for disability compensation and to their survivors for dependency and indemnity compensation by the same cost-of-living adjustment payable to Social Security recipients.
“While we can never fully measure the debt of gratitude owed to the brave men and women of our Armed Forces, we can at least make sure that these soldiers and their families have the peace of mind of financial stability,” stated Berg. “These soldiers have made profound sacrifices for our country, and we must make sure that they and their families are never left worrying about how they will make ends meet in the face of misfortune.”
Each year, Congress reviews disability compensation for disabled veterans, which includes indemnity compensation for surviving spouses and dependent children. The amount of compensation is contingent on the severity of the veteran’s disability and how it affects his or her earning capacity. This legislation will adjust the cost-of-living adjustment for disabled veterans to match the annual adjustment for Social Security.
The Veterans’ Compensation Cost-of-Living Adjustment Act of 2012 unanimously passed in the House. It will now be sent to the Senate for consideration.