On June 14, 2023, President Joe Biden signed into law the Veterans Compensation Cost-of-Living Adjustment (COLA) Act of 2023, which directs the Department of Veterans Affairs to provide a cost-of-living adjustment for Veterans benefits in 2024 equal to the COLA applied to Social Security benefits, as determined by the Social Security Administration (SSA).

The legislation, passed with bi-partisan support in the House and Senate, is extremely important for your nation’s Veterans, as it keeps pace with inflationary costs.

The COLA will affect certain VA benefits, including, but not limited to: disability compensation, clothing allowance, and dependency and indemnity compensation (DIC) for spouses and children.