April 7, 2006
Media contact: Jeff Schrade (202)224-9093

(Washington, DC) U.S. Senators Larry Craig and Daniel Akaka have introduced legislation (S. 2562) to increase the amount of money veterans with service connected disabilities will receive. The legislation will also increase the compensation for the survivors of some disabled veterans. If approved by Congress, the increase will become effective on December 1, 2006.

"Senator Akaka and I have joined together in introducing bi-partisan legislation to help our nation's disabled veterans. This compensation increase will also impact the survivors of veterans and servicemembers who died, or who will die, as a result of military service," Craig said. "This is vitally important legislation."

Every year since 1976 Congress has enacted an annual COLA adjustment for veterans with disabilities and survivors.

"The regularity of Congress's action on COLA legislation underscores its importance. Without it, inflation would erode the purchasing power of millions of beneficiaries," Craig said.

Those who crunch the numbers at the Congressional Budget Office estimate that the Craig-Akaka legislation will increase direct spending on disabled veterans and their survivors by $530 million in fiscal year 2007.

Among the veterans estimated to receive such compensation are 5 World War I veterans; 335,180 World War II veterans; 160,889 Korean conflict veterans; 992,360 Vietnam era veterans; and 762,230 veterans of the Persian Gulf war era. The COLA legislation will also benefit an estimated 348,479 survivors.

"This legislation is critical to the lives of over 3 million beneficiaries who have served our country well and faithfully," Craig said.

 #####