Veterans' COLA Act of 2023

The Veterans' COLA Act of 2023 increases compensation rates for veterans with service-connected disabilities and for survivors of certain disabled veterans, effective December 1, 2023. These increases will be calculated using the same percentage as the Social Security Act's cost-of-living adjustment for that year. The bill affects veterans receiving disability compensation under section 1114 of Title 38, as well as survivors receiving dependency and indemnity compensation under sections 1311, 1313, and 1314. Specific provisions include adjustments to wartime disability compensation, additional compensation for dependents, clothing allowances, and survivor benefits. The Department of Veterans Affairs will publish the adjusted rates in the Federal Register by the date required for Social Security Act adjustments.