WASHINGTON, DC – U.S. Senator Gary Peters (MI) recently announced that he is cosponsoring the Veterans’ Compensation Cost-of-Living Adjustment Act, bipartisan legislation to authorize the Department of Veterans Affairs (VA) to increase the amounts paid for veterans’ disability compensation and other benefits by implementing the same cost-of-living adjustment that recipients of Social Security receive. Michigan is home to more than 650,000 veterans.
“Many veterans who have served our nation in uniform rely on the benefits they’ve earned through their service to make ends meet,” said Senator Peters, a former Lieutenant Commander in the U.S. Navy Reserve. “I’m proud to join my colleagues in supporting this commonsense, bipartisan legislation to help ensure veterans and their families can afford rising living costs and their benefits keep pace with inflation.”
The cost-of-living adjustment implemented under the Veterans’ Compensation Cost-of-Living Adjustment Act would increase the rates of veterans’ disability compensation, compensation for surviving spouses and children of deceased veterans, and other benefits based on rising costs of living.
Senator Peters has been a strong voice for Michigan’s veterans and servicemembers.
As a member of the U.S. House of Representatives, Peters supported legislation to repeal decreased cost-of-living adjustments for military retirees.
Earlier this year, Peters introduced a bipartisan bill to help veterans who may have been erroneously given a less than honorable discharge from the military due to behavior resulting from mental traumas such as post-traumatic stress disorder (PTSD) or Traumatic Brain Injury (TBI).