The Social Security Administration announced Thursday that disabled veterans and military families will be eligible for the largest pay raise in 40 years.
The 8.7 percent increase in compensation and benefits was made possible after U.S. Rep. Elaine Luria of Virginia, with U.S. Rep. Troy Nehls of Texas, introduced the Veterans’ Compensation Cost-of-Living Adjustment (COLA) Act of 2022, which was signed into law on October 10.
According to a press release, the Veterans’ COLA Act increases compensation for certain Department of Veterans Affairs benefits, including benefits to survivors of service members who died in the line of duty or suffer from a service-related injury or disease. The increase goes into effect Dec. 1, 2022.
“This increase in compensation and benefits, the largest in 40 years, will provide critical financial help to our veterans and their families during these challenging times,” Luria, who is vice chair of the House Armed Services Committee and serves on the House Committee on Veterans’ Affairs, said in the press release. “We have an obligation as a nation to take care of our veterans, and I will continue to work across the aisle to expand access to health care, increase benefits and compensation, and improve the quality of life for veterans and military families in Coastal Virginia and across the country.”
In 2021, President Joe Biden signed into law Luria’s COLA Act of 2021, which gave veterans a 5.9 percent increase — the largest since 1982, according to the press release.
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Rebecca Barnabi
