2013 COLA Estimated 1.3%
The VA has revised its estimate on how long it will take the department to process a cost-of-living adjustment (COLA) in disability and survivors benefits, giving Congress until December to approve an increase that would appear in January 1 payments.
When Congress left for a pre-election break, legislation was left in limbo regarding COLA benefits and veterans were under the impression that they would not be able to see an adjustment in their January 1 checks. Although the potential COLA increase has not been calculated, the Congressional Budget Office estimates it being at a minimum 1.3 percent, affecting 3.9 million struggling veterans.
Although the deadline for Congress to act in order to get the 1.3% COLA increase into January 1 checks hasn’t been firmly established, it is estimated that the drop-dead date for change is the week of December 3rd.
As far as reasons why it has been taking so long to approve a COLA change, a senior Senate Republican aide stated it may be because of large voice-vote bill packages. The COLA was included with dozens of other bills and because many Senators didn’t have enough time to review the bundled bills, the voting was postponed to avoid mistakes and snap judgments.
Since there seems no apparent attempt to block the passage of the 1.3% COLA change for 2013, all veterans can do now is hope that Congress acts before it’s too late.
To learn more or see the original article, please visit: http://www.airforcetimes.com/news/2012/10/military-va-says-congress-has-until-december-to-pass-cola-increase-100512w/