Veterans

The House and Senate both approved a measure on June 24 that could increase the cost-of-living allowance paid to disabled and indigent veterans, dependency and indemnity compensation for eligible surviving spouses and children of veterans, and other benefit payments offered by the Department of Veterans Affairs. The bill now is on its way to the White House for President Obama’s signature. Any change in benefits payments, which would be pegged to the Consumer Price Index, would take effect Dec. 1. The Bureau of Labor Statistics calculates the CPI to measure inflation. If the CPI goes up, benefits payments rise accordingly. If it declines or stays the same, the payments would remain unchanged. The CPI also determines how much Social Security benefits change. Although the CPI typically rises each year, some analysts believe that it may actually decline because of the sluggish economy. The BLS should release the CPI sometime this fall.