The U.S. Senate recently passed S. 2617, the Veterans' Compensation Cost-of-Living Adjustment Act of 2008, which will adjust veterans' compensation rates to keep pace with inflation, effective Dec. 1, 2008. According to recent data provided by the Department of Veterans Affairs, this increase will go to 2.8 million veterans and over 300,000 surviving spouses receiving dependency and indemnity compensation. The bill now moves to the House of Representatives for their consideration. While this year's cost-of-living increase has yet to be determined, the Congressional Budget Office has projected a 2.8 percent increase.
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Senate Approves COLA Increase
Week of August 11, 2008
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