September 20, 2006
Media contact: Jeff Schrade (202)224-9093

(Washington, DC) A bill to increase the money disabled veterans receive every month is expected to be adopted by the U.S. Senate on Thursday. The legislation (S. 2562) is sponsored by the top Republican and top Democrat on the U.S. Senate Committee on Veterans' Affairs.

"Senator Daniel Akaka (D-Hawaii) and I are committed to doing all we can to help our nation's disabled veterans. Our bill not only will help them, it will also help many of the survivors of disabled veterans," said Committee Chairman Larry Craig (R-Idaho).

If approved by Congress, the increase will become effective on December 1, 2006. The is also co-sponsored by U.S. Senators Kay Bailey Hutchison (R-Texas), Olympia Snowe (R-Maine) and Mike Crapo (R-Idaho).

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.

Experts within the Congressional Budget Office estimate that the legislation will increase direct spending on disabled veterans and some of their survivors by approximately $700 million next year.

"For the average veteran, we expect the increase to be around 2.9 percent. We won't know for sure until the numbers come in at the end of the fiscal year, which is just two weeks away," Craig said.

Among the veterans estimated to receive such compensation are a handful of remaining World War I veterans; over 300,000 World War II veterans; 160,000 Korean conflict veterans; over 900,000 Vietnam era veterans; and 700,000 veterans of the Persian Gulf war era. The COLA legislation will also benefit nearly 350,000 survivors.

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

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