Veterans' Compensation Cost-Of-Living Adjustment Act of 2023

Floor Speech

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Mr. BOST. Mr. Speaker, I move to suspend the rules and pass the bill (S. 777) to increase, effective as of December 1, 2023, the rates of compensation for veterans with service-connected disabilities and the rates of dependency and indemnity compensation for the survivors of certain disabled veterans, and for other purposes.

The Clerk read the title of the bill.

The text of the bill is as follows: S. 777

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE.

This Act may be cited as the ``Veterans' Compensation Cost- of-Living Adjustment Act of 2023'' or the ``Veterans' COLA Act of 2023''. SEC. 2. INCREASE IN RATES OF DISABILITY COMPENSATION AND DEPENDENCY AND INDEMNITY COMPENSATION.

(a) Rate Adjustment.--Effective on December 1, 2023, the Secretary of Veterans Affairs shall increase, in accordance with subsection (c), the dollar amounts in effect on November 30, 2023, for the payment of disability compensation and dependency and indemnity compensation under the provisions specified in subsection (b).

(b) Amounts To Be Increased.--The dollar amounts to be increased pursuant to subsection (a) are the following:

(1) Wartime disability compensation.--Each of the dollar amounts under section 1114 of title 38, United States Code.

(2) Additional compensation for dependents.--Each of the dollar amounts under section 1115(1) of such title.

(3) Clothing allowance.--The dollar amount under section 1162 of such title.

(4) Dependency and indemnity compensation to surviving spouse.--Each of the dollar amounts under subsections (a) through (d) of section 1311 of such title.

(5) Dependency and indemnity compensation to children.-- Each of the dollar amounts under sections 1313(a) and 1314 of such title.

(c) Determination of Increase.--Each dollar amount described in subsection (b) shall be increased by the same percentage as the percentage by which benefit amounts payable under title II of the Social Security Act (42 U.S.C. 401 et seq.) are increased effective December 1, 2023, as a result of a determination under section 215(i) of such Act (42 U.S.C. 415(i)).

(d) Special Rule.--The Secretary of Veterans Affairs may adjust administratively, consistent with the increases made under subsection (a), the rates of disability compensation payable to persons under section 10 of Public Law 85-857 (72 Stat. 1263) who have not received compensation under chapter 11 of title 38, United States Code. SEC. 3. PUBLICATION OF ADJUSTED RATES.

The Secretary of Veterans Affairs shall publish in the Federal Register the amounts specified in section 2(b), as increased under that section, not later than the date on which the matters specified in section 215(i)(2)(D) of the Social Security Act (42 U.S.C. 415(i)(2)(D)) are required to be published by reason of a determination made under section 215(i) of such Act during fiscal year 2024.

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Mr. BOST. 777.

Mr. Speaker, I rise today in support of S. 777. I appreciate Senator Tester and Senator Moran for their leadership on this important bill. I also thank Subcommittee on Disability Assistance and Memorial Affairs Chairman Luttrell and Ranking Member Pappas for leading the House companion to S. 777.

Our bipartisan collaboration on this legislation each year is vitally important. The Veterans' COLA Act of 2023 would increase the rates of compensation for our veterans and their survivors to keep pace with inflation and the rising cost of living.

Many veterans fought for our country and came back with visible and invisible injuries. Their disability compensation benefits provide financial security for service-disabled veterans and their families.

Mr. Speaker, veterans should not have to worry whether their earned benefits can cover their basic needs. They should not have to choose between gas to get to work or groceries for their family.

However, unfortunately, because of the Biden inflation problem that has occurred because of out-of-control spending, this is a reality for thousands of veterans' families. The least we can do for them is to provide a cost-of-living adjustment this year so they can continue to pay their bills and put food on their tables.

I am proud to support this bill today, and I hope all my colleagues will join me in sending this bill to the President's desk.
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Mr. BOST. Mr. Speaker, I have no further speakers, and I reserve the balance of my time.

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Mr. BOST. Mr. Speaker, I have no more speakers.

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Mr. BOST. Mr. Speaker, I also encourage all of our Members to support this legislation, and I yield back the balance of my time.

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