VETERANS' COMPENSATION COST-OF-LIVING ADJUSTMENT ACT OF 2008 -- (Extensions of Remarks - September 11, 2008)
* Mr. HOLT. Mr. Speaker, I am pleased that the House is considering today S. 2617, the Veterans' Compensation Cost-of-Living Adjustment (COLA) Act of 2008. If enacted, this bill would require the Secretary of Veterans Affairs to provide a COLA to veterans receiving disability compensation and other select VA beneficiaries that matches the cost-of-living increase rates of Social Security beneficiaries. The increase would take effect December 1, 2008.
* I am pleased that this Congress has kept its promises to America's veterans. Last year, we passed the largest single funding increase in the history of the VA, and I am hopeful that we will continue to increase funding for key VA programs over the coming year. In the meantime, it is necessary for us to meet some other basic challenges facing our veterans, and the bill before us addresses one of those challenges.
* Many veterans live on fixed incomes, and thus have been very hard hit by recent increases in prices for food, gasoline, and other essentials. By passing this COLA, we will give veterans across America the additional financial assistance they need to care for themselves and their families. The Senate passed this bill in July 2008. I urge my colleagues to join me in supporting this bill, and I urge the President to sign it as soon as it reaches his desk.