COLA for VA Approved

COLA for VA Approved
The House and Senate approved the “Veterans’ Compensation Cost-of-Living Adjustment Act” (H.R.1329), sponsored by Rep. Mike Bost (Ill.), to boost next year’s veterans benefits by two percent. This is the same cost-of-living-adjustment (COLA) increase as Social Security, and military retirement pay starting in December.
The move is a routine annual step by lawmakers. Under current law, annual cost-of-living increases are automatic for Social Security benefits, and military retirees, determined by the Bureau of Labor Statistics (BLS) without intervention from Congress. Veteran’s benefits, however, fall into a different category, one that requires lawmakers to approve a new adjustment every year.
President Trump is expected to sign the latest measure into law in the coming days.

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