Bill to Increase Veterans' Benefits Passes Senate

WASHINGTON, D.C.—Today, legislation cosponsored by U.S. Senator Richard Burr (R-NC), Ranking Member of the Senate Committee on Veterans’ Affairs, passed the Senate by unanimous consent.  This bipartisan legislation will increase veterans’ benefits to keep up with the cost of living.  The bill would make a cost-of-living adjustment (COLA) available to veterans at the same level as the increase provided to Social Security beneficiaries.  This annual COLA legislation impacts veterans’ disability payments and compensation for surviving spouses and children.

“There is no group of Americans to whom we owe more than our nation’s veterans, who selflessly gave themselves to defend our freedoms.  It is our responsibility to ensure that we provide them with the benefits and services they need and deserve,” said Senator Burr.  “I am pleased this legislation has passed the Senate and I encourage the House to swiftly act.  This simple legislation is one way we can help make sure we are keeping true to our promise to our veterans and their families.” 

The Veterans’ Compensation Cost-of-Living Adjustment Act of 2014, S. 2258, directs the Secretary of Veterans Affairs to increase the rates of veterans’ compensation to keep pace with a rise in the cost-of-living, prompted by an increase in the Consumer Price Index.  The legislation makes an increase available to veterans on December 1, 2014.