NEWS: Cost-of-Living Boost Passes House!

Earlier today, House lawmakers successfully passed new legislation that would help to ensure a cost-of-living boost in the new year, as long as Social Security officials approve it for their recipients.

This legislation, in large part, is commonly a routine practice, however, it is facing a few more hurdles at the moment due to COVID-19, and the strength of the pandemic we’re currently facing.

The bill itself (COLA), which is sponsored by Rep. Elaine Luria, was verbally approved on Thursday morning via a voice-vote, without an objection. Rep. Luria is optimistic, that the Senate will look into the matter as soon as possible. “I haven’t heard of any problems,” said Luria.

Back at the start of the year, Veterans and Social Security recipients received a 1.6% COLA influx, which in itself was based on inflation and consumer spending calculations, spanning over the last few months of 2019.

What Will This Cover?

The benefits covered in this legislation would include the following:

  • Disability Compensation
  • Compensation for Dependents
  • Clothing Allowances
  • Dependency and Indemnity Compensation

Members of the House praised this bill and its successful passage as a key step in keeping their word in regards to the care the U.S. is providing for veterans, far after their military service has concluded.

There has been no word as of now from Senate leaders on when the bill will be seen. Please stay tuned to our website, blog, and social media for the latest updates!

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