Murray Pushes for Cost-of-Living Adjustment Increase for Veterans

(Washington, D.C.) – Today, U.S. Senator Patty Murray,
Chairman of the Senate Veterans’ Affairs Committee introduced legislation to increase veterans’ compensation through a
Cost-of-Living Adjustment (COLA).  The COLA increase would affect several important
benefits, including veterans’ disability compensation and dependency and
indemnity compensation for surviving spouses and children.  It is
projected that over 3.5 million veterans and survivors will receive
compensation benefits in Fiscal Year 2012. 

“It’s been two years since our veterans saw an increase
in their benefits through a COLA, and those have been two difficult years,” said
Chairman Murray. “In a still challenging economy so many of our veterans
depend upon
the benefits they receive in order to meet their most basic needs, as well as
those of their spouses and children. We have an obligation to the men and women
who have sacrificed so much to serve our country and who now deserve nothing
less than the full support of a grateful nation.  A COLA increase will
help brings us one step closer to fulfilling our nation’s promise to care for
our brave veterans and their families.”

The Veterans’ Compensation Cost-of-Living Adjustment Act
of 2011 directs
the Secretary of Veterans Affairs to increase the rates of veterans’
compensation to keep pace with a rise in the cost-of-living, should an
adjustment be prompted by an increase in the Consumer Price Index (CPI). 
The bill specifies that the increase would affect veterans’ disability
compensation, dependency and indemnity compensation for surviving spouses and
children, and certain related
benefits.   

The COLA increase for veterans will match the annual
increase provided to Social Security recipients. The COLA is designed to offset
inflation and other factors that lead to the rising cost of living over
time.  The COLA rate is based on the Bureau of Labor Statistics Consumer
Price Index. 

A bipartisan group of Senators signed on to co-sponsor
the bill including the Committee’s Ranking Member Senator Richard Burr (R-NC)
as well as Senator John D. Rockefeller IV (D-WV), Senator
Daniel Akaka (D-HI), Senator Bernie Sanders (I-VT), Senator Sherrod Brown
(D-OH), Senator Jim Webb (D-VA), Senator Jon Tester (D-MT), Senator Mark Begich
(D-AK), Senator Johnny Isakson (R-GA), Senator Roger Wicker (R-MS), Senator
Mike Johanns (R-NE), Senator Scott Brown (R-MA), Senator Jerry Moran (R-KS),
and Senator John Boozman (R-AR).