Veterans' Compensation Cost-of-Living Adjustment Act of 2011
Floor Speech
Mrs. MURRAY. Mr. President, today, as chairman of the Senate Committee on Veterans' Affairs, I would like to show my strong support for Senate passage of S. 894, the Veterans' Compensation Cost-of-Living Adjustment Act of 2011.
Effective December 1, 2011, this measure directs the Secretary of Veterans Affairs to increase the rates of veterans' compensation to keep pace with a rise in the cost-of-living, should an adjustment be prompted by an increase in the Consumer Price Index, commonly known as the CPI. Referred to as the COLA, this important legislation would make an increase available to veterans at the same level as an increase provided to recipients of Social Security benefits.
All of my colleagues on the Committee on Veterans' Affairs, including Ranking Member Burr and Senators ROCKEFELLER, AKAKA, SANDERS, BROWN of Ohio, WEBB, TESTER, BEGICH, ISAKSON, WICKER, JOHANNS, BROWN of Massachusetts, MORAN, and BOOZMAN join me in supporting this important legislation. I look forward to our continued work together to improve the lives of our Nation's veterans.
Last year, Congress passed, and the President signed into law, Public Law 111-247, which would have increased veterans' compensation rates had there been an increase in the CPI. While there was no cost-of-living increase in 2011; the 2012 adjustment will be 3.6 percent.
The COLA affects so many important benefits, including veterans' disability compensation and dependency and indemnity compensation for surviving spouses and children. It is projected that over 3.9 million veterans and survivors will receive these benefits in fiscal year 2012.
Mr. President, our Nation's veterans are hurting. The cost of food and fuel continue to rise. Failing to pass a cost-of-living adjustment will have serious effects on the quality of life veterans deserve. We have an obligation to care for our brave veterans and their families by providing them with the compensation needed to maintain a quality standard of life.
I ask my colleagues to keep our promise to our Nation's veterans by working together to ensure this benefit remains available and is not diminished by the effects of inflation.
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