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Veterans' Compensation Cost-of-Living Adjustment (COLA) Act of 2023

TREA Members,

After months of advocacy, we are proud to report that President Joe Biden signed into law the TREA backed Veterans’ Compensation Cost-of-Living Adjustment (COLA) Act of 2023

The bipartisan legislation will increase compensation for veterans with service-connected disabilities and military survivors under the U.S. Department of Veterans Affairs. The COLA Act will also increase certain VA benefits including disability compensation, clothing allowances, and dependency and indemnity compensation for surviving spouses and children to reflect increases in the cost of living. 

The rates will be determined by the annual COLA adjustment to social security benefits, as determined by the Social Security Administration, and will go into effect December 1, 2023. The Social Security Administration bases their annual COLA adjustment on the Consumer Price Index, as determined each December by the Labor Department’s Bureau of Labor Statistics.

TREA thanks Senator Jon Tester, Senator Jerry Moran, Congressman Chris Pappas, and Congressman Morgan Luttrell for their leadership on this important measure.

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