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DEMOCRATIC
PRESS RELEASE
January 29, 2007
AKAKA PUSHES FOR COLA INCREASE FOR VETERANS
Washington, D.C. – U.S. Senator Daniel K. Akaka (D-HI) introduced
legislation today to increase veterans’ compensation through a
Cost-of-Living Adjustment (COLA). A bipartisan group of Senators signed
on to co-sponsor the bill: Senator Larry Craig (R-ID), Senator John D.
Rockefeller IV(D-WV), Senator Patty Murray (D-WA), Senator Bernie
Sanders (I-VT), Senator Sherrod Brown (D-OH), Senator Jim Webb (D-VA),
and Senator John Ensign (R-NV).
“Making sure disability compensation gets to our nation’s veterans is
one of the core missions of the Department of Veterans Affairs. It’s our
duty to help those veterans whose health and ability have been altered
by their service to our country,” stated Senator Akaka.
The Veterans' Compensation Cost-of-Living Adjustment Act of 2007 directs
the Secretary of Veterans Affairs (as of December 1, 2007) to increase
the rates of:
• Veterans' disability compensation
• Dependency and indemnity compensation for surviving spouses and
children
• And certain related benefits.
The COLA increase for veterans will match the annual increase provided
to Social Security recipients. The COLA is designed to offset inflation
and other factors that lead to the rising cost of living over time. The
COLA rate is based on the Bureau of Labor Statistics “Consumer Price
Index.” This year’s increase has yet to be determined.
“It is important that we view all veterans compensation, including the
annual COLA, as a cost of war. It is clear that the ongoing conflicts in
Iraq and Afghanistan will continue to result in injuries and
disabilities that will increase claims for compensation,” Akaka said.
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Larry Scott
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