Sen. Brown Announces Bipartisan Bill to Ensure Financial Stability for Veterans and Their Families

Bipartisan Legislation Sponsored by 12 Senators Would Tie Veterans Compensation with Cost of Living

WASHINGTON, D.C. – U.S. Sen. Sherrod Brown (D-OH) joined with Senate Veterans’ Affairs Committee Chairman Patty Murray (D-WA) and a bipartisan group of 10 senators to introduce bipartisan legislation to increase veteran’s compensation through a cost-of-living adjustment (COLA).

“As our nation continues its economic recovery, we must ensure that veterans of every generation receive the care and benefits they have earned and deserved,” Brown said. “With many of our nation’s veterans struggling to afford rising gas prices and as we debate where we invest and where we cut, it is critical that our nation’s veterans are given a fair shake.” 

Congress must pass legislation in order for veterans to receive the increased benefit due to the rising cost of living expenses. The cost-of-living-adjustment (COLA) is designed to offset inflation and other factors that alter the cost of living over time. The COLA calculation is based on the Bureau of Labor Statistics “Consumer Price Index.”

Also cosponsored by U.S. Sens. Jon Tester (D-MT), Jay Rockefeller (D-WV), Daniel Akaka (D-HI), Bernie Sanders (I-VT), Mark Begich (D-AK), Jim Webb (D-VA), Richard Burr (D-NC), Mike Johanns (R-NE), Johnny Isakson (R-GA), and Scott Brown (R-MA), the Veterans’ Compensation Cost-of-Living Adjustment Act would apply the COLA increase to veterans’ disability compensation, dependency and indemnity compensation for surviving spouses and children, and other related benefits. The COLA increase for veterans will match the annual increase provided to Social Security recipients. The increase for 2009 was 5.8 percent and there was no increase in 2010.

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