Begich Bill to Increase Payments to Veterans is Signed into Law

Press Release

A bill sponsored by U.S. Senator Mark Begich to increase the amount of benefits paid to the nation's veterans, the Veterans' Compensation Cost-of-Living Adjustment Act of 2014, was signed into law today by President Obama.

Effective December 1, 2014, the measure 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). Referred to as the COLA, this important legislation would make an increase available to disabled veterans at the same level as the increase provided to recipients of Social Security benefits.

"I'm glad the President signed this bill into law today because so many disabled veterans and families of deceased veterans depend on these payments to help them with the essentials like putting food on the table, heating their homes, and paying for prescription drugs," said Begich. "I sponsored this legislation because we have an obligation to the men and women who sacrificed so much to serve our country and to protect our freedoms. It's not every day we agree on bills, but veterans issues are everyone's issues so I'm glad my colleagues were able to put partisan politics aside. As a member of the Senate Veterans' Affairs Committee, I am determined to keep fighting to fulfill our nation's promise to care for our brave veterans and their families."

The VA has projected that more than 4.5 million veterans and survivors will receive these benefits in fiscal year 2015. Last year's cost-of-living adjustment of 1.5 percent affected many important benefits, including veterans' disability compensation and dependency compensation for surviving spouses and children.

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