Cost-of-Living Adjustment Act of 2012 Passes House
WASHINGTON, D.C.—Today, the House of Representatives affirmed its ongoing commitment to America’s veterans by overwhelmingly passing the Veterans’ Compensation Cost-of-Living Adjustment Act of 2012 (H.R. 4114).
“Congress knows that veterans are dependent upon us acting in a timely manner with regards to their needs,” stated Subcommittee on Disability Assistance and Memorial Affairs Chairman Jon Runyan. “By acting on the yearly COLA this summer instead of waiting until the last minute, we tell America’s veterans that we remain dedicated to ensuring that they are given the benefits they were promised when they signed up to serve.”
“Veterans have enough to worry about without the added stress of not knowing if their cost-of-living adjustments will be held up in a political tug-of-war,” said Rep. Jeff Miller, Chairman of the House Committee on Veterans’ Affairs. “We have an obligation to the men and women who served this nation to make sure we are doing everything we can to keep the promise made to them. Today we upheld that promise.”
If signed into law, H.R. 4114 would increase the annual cost-of-living rate for veterans, which goes into effect on December 1, 2012. It is estimated that this year’s COLA will be approximately 1.9 percent.
The legislation now heads to the Senate for consideration.