Bill Guaranteeing Cost-of-Living Increase for Veterans in 2024 Heads to President's Desk

Legislation giving veterans a cost-of-living adjustment on benefits in 2024 -- likely to result in an increase in payments -- is headed to President Joe Biden's desk for signature following an agreement by the House.

The annual procedure done by Congress guarantees that veterans' pensions or disability payments will keep pace with increases to Social Security, Supplemental Security and federal disability income payments.

The exact amount of next year's increase has not yet been determined. It's based on the Consumer Price Index for Urban Wage Earners and Clerical Workers and usually is announced at the start of the fiscal year, sometime in October.