Veterans Could Soon See Biggest Cost-of-Living Benefits Boost in Decades

September 22, 2021Hannah Ray Lambert

Lawmakers approved a cost-of-living adjustment for veterans’ benefits, but the Social Security Administration has yet to announce by how much the rate will increase. US Army photo by Spc. Dana Clarke.

Veterans could see an unusually large boost in their cost-of-living benefits payments because of legislation that Congress passed this week.

The Senate approved the Veterans’ Compensation Cost-of-Living Adjustment Act on July 21. On Monday, Sept. 20, the House of Representatives passed the bill 423-0. It now heads to the desk of President Joe Biden. If the measure is signed into law, it could represent the largest increase in benefits payments in decades.

The cost-of-living adjustment (COLA) is tied to the annual increase in Social Security benefits, effective Dec. 1. The Social Security Administration has not announced the new rate yet, but the Senior Citizens League predicts that it could be as high as 6.1%, which would be the largest increase since 1983. The COLA has averaged around 1.4% for the past decade.

World War II veterans place wreaths at the National World War II Memorial to commemorate the 75th anniversary of D-Day and Operation Overlord, in Washington, DC, June 6, 2019. Department of Defense photo by Lisa Ferdinando.

High inflation fueled by the coronavirus pandemic drove the remarkably large estimated boost, according to the Senior Citizens League. Rising gas and transportation prices are major contributors since the consumer price index gives those expenses more weight, according to a press release from the advocacy group.

Veterans’ COLA applies to disability compensation, dependency and indemnity compensation, clothing allowances, and other kinds of VA assistance.

Lawmakers heralded the bill as a necessary step to protect the nation’s veterans.

“Many veterans rely on disability compensation payments to make ends meet; this was especially true during the pandemic,” Rep. Mike Bost, a Republican from Illinois, said. “For millions of veterans and their families, this adjustment is more important now than ever before.”

Read Next: VA Clears Path to Benefits for LGBT Members Discharged Under DADT

Hannah Ray Lambert
Hannah Ray Lambert

Hannah Ray Lambert is a former staff writer for Coffee or Die who previously covered everything from murder trials to high school trap shooting teams. She spent several months getting tear gassed during the 2020-2021 civil unrest in Portland, Oregon. When she’s not working, Hannah enjoys hiking, reading, and talking about authors and books on her podcast Between Lewis and Lovecraft.

More from Coffee or Die Magazine
dear jack mandaville
Dear Jack: Which Historic Battle Would You Want To Witness?

Ever wonder how much Jack Mandaville would f*ck sh*t up if he went back in time? The American Revolution didn't even see him coming.

west point time capsule
West Point Time Capsule Yields Centuries-Old Coins

A nearly 200-year-old West Point time capsule that at first appeared to yield little more than dust contains hidden treasure, the US Military Academy said.

Ouija Board aircraft carrier
Low-Tech ‘Ouija Boards’ Have Helped Aircraft Carriers Operate for Decades

Since the 1920s, a low-tech tabletop replica of an aircraft carrier’s flight deck has been an essential tool in coordinating air operations.

Army vs. Navy mascot
The Navy Goat vs. the Army Mule: Mascot Origin Stories

For nearly as long as the Army-Navy football rivalry, the academies’ hoofed mascots have stared each other down from the sidelines. Here are their stories.

ukraine long-range weapon
Zelenskyy Says Ukraine Has Developed a Long-Range Weapon, a Day After Strike Deep Inside Russia

Zelenskyy said on his Telegram channel the weapon was produced by Ukraine’s Ministry of Strategic Industries but gave no other details.

7 of the Best Movie Ambush Scenes of All Time

Ambushes make for great action scenes. Here are seven of the best to ever grace the big screen.

North Korean leader Kim Jong Un, center, with his daughter, center right, reportedly named Ju Ae, review the honor guard during their visit to the navy headquarter in North Korea
North Korea Launches Missile Toward Sea After US Flies Bomber During Drills

South Korea’s Joint Chiefs of Staff said in a statement that the launch occurred Wednesday but gave no further details, such as how far the missile flew.

  • About Us
  • Privacy Policy
  • Careers
Contact Us
Contact Us
© 2023 Coffee or Die Magazine. All Rights Reserved