Senate Passes Manchin Bill On Annual Veteran Cost Of Living Adjustment
Washington, DC – Yesterday, the Senate unanimously passed the Department of Veterans Affairs (VA) Cost of Living Adjustment (COLA) Act of 2020, legislation led by U.S. Senator Joe Manchin (D-WV), member of the Senate Veterans Affairs Committee.
“As one of the most patriotic states in the nation, our brave Veterans have served America with honor. Now it is our turn to take care of them. This legislation ensures that as the cost of living for Americans and West Virginians increases, our Veterans are compensated correctly through their VA benefits. I am pleased the Senate unanimously passed my legislation yesterday to continue the annual adjustment for our Veterans’ cost of living, and I look forward to seeing this legislation signed into law. Our Veterans deserve the best care and assistance, and this legislation will help secure their well-deserved benefits,” said Senator Manchin.
The bipartisan legislation would increase certain VA benefits including disability and dependent compensation, clothing allowances, and dependency and indemnity compensation to surviving spouses and children to reflect increases in the cost of living. The cost of living adjustment will be determined by the annual COLA to social security benefits, as determined by the Social Security Administration and would go into effect Dec. 1, 2020. The Social Security Administration bases their annual COLA adjustment on the Consumer Price Index, as determined each December by the Labor Department's Bureau of Labor Statistics.
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