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H.R. 4958, Veterans’ Compensation Cost-of-Living Adjustment Act of 2018 (CBO Report for Congress)

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Congress 115th
Date Requested May 8, 2018
Requested By House Committee on Veterans’ Affairs
Date Sent May 9, 2018
Description:

H.R. 4958 would increase the amounts paid to veterans for disability compensation and to their survivors for dependency and indemnity compensation by the same cost-of-living adjustment (COLA) that recipients of Social Security receive in 2019. The increase would take effect on December 1, 2018.

 

The COLA that would be authorized by this bill is assumed in CBO’s baseline, consistent with section 257 of the Balanced Budget and Emergency Deficit Control Act. Because the COLA is assumed in CBO’s baseline, authorizing its use would have no budgetary effect relative to the baseline. Relative to current law, CBO estimates that enacting this bill would increase spending for those programs by $1.5 billion in fiscal year 2019. CBO estimates that the COLA effective on December 1, 2018, will be 2.3 percent. (The annualized cost would be about $2.0 billion in subsequent years.)

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