On Tuesday, November 12th, the United States House of Representatives passed the Veterans’ Compensation Cost-of-Living Adjustment Act of 2013. Pending a signature from President Obama, this new bill will increase veterans’ disability compensation , survivor benefits, and clothing allowances by about 1.5 percent, estimated by the Congressional Budget Office.
The Veterans’ Compensation COLA Act of 2013 was introduced by Senator Bernie Sanders of Vermont to end the unfair practice of rounding down COLA amounts. The DAV (Disabled American Veterans) testified for Sanders before the Senate Veterans’ Affairs Committee on June 12th of this year, praising the Chairman for his forward-thinking bill. For the first time in nearly 20 years, the COLA will not be rounded down unless it is less than 50 cents; however, it will be rounded up to the nearest whole dollar if more than 50 cents. Rounding down, as Congress has done in the past, has resulted in millions of dollars being withheld from disabled veterans each year.
This cost-of-living increase is a huge step forward for veterans, and will hopefully bring more financial stability to families across the country, who may be struggling with the US economy. If you or a loved one have any questions about the veterans’ COLA increase, or need help with veterans disability benefits , contact George Sink, P.A. Injury Lawyers today. We’ll help you understand what you may be entitled to as a disabled veteran, and how to get all the compensation you deserve. Visit us in Columbia, Charleston, Orangeburg, or Greenville – or call to schedule an appointment anywhere in South Carolina.