VeteransCOLA Bill Passes

The Senate passed the “Veterans Cost-of-Living-Adjustment Act” (H.R. 4114) this week, which authorizes a cost-of-living increase in benefits for veterans with service-related disabilities and their survivors. The House passed the bill, sponsored by Rep. Jon Runyan (N.J.), in early July and President Obama is expected to sign the bill into law shortly. The measure will provide an estimated 1.7-percent increase in benefits for 3.9 million veterans and their families and will take effect December. 1, 2012, and will be reflected in January benefit checks.