Vets benefits poised for biggest cost of living boost in 40 years

BONUS- FOR THE VETERAN OF THE VETERAN SHARE OF THE DAY

Vets benefits poised for biggest cost of living boost in 40 years
By Leo Shane III
Sep 23, 12:00 PM
Lawmakers this week passed legislation linking an increase in veterans benefits for 2023 to the cost-of-living adjustment for Social Security benefits. (C. Todd Lopez/Defense Department)

Veterans could see their benefits boosted by the biggest margin in four decades after Congress on Thursday finalized plans to guarantee that veterans’ checks see the same cost-of-living boost as Social Security payouts.

Federal officials aren’t expected to announce the Social Security benefits adjustment until mid-October. Earlier this week, the nonprofit Senior Citizens League predicted a cost-of-living increase of about 8.7% for 2023, based on inflation data through the first eight months of the year.

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