Chris Smith: “Mr. Speaker, H.R. 4085, the Veterans' Compensation Cost of Living Adjustment Act of 2002, will provide a cost of living…”

“Mr. Speaker, H.R. 4085, the Veterans' Compensation Cost of Living Adjustment Act of 2002, will provide a cost of living adjustment to disabled veterans and surviving spouses. The amount of the increase will be calculated using the same percentage applicable to Social Security benefits. The percentage amount should be announced later on this week and will be around 1.5 to 2 percent. Upon enactment of this vital legislation, all veterans or qualified survivors of veterans who receive disability compensation payments will receive the COLA effective December 1 of this year. Mr. Speaker, the House originally passed this COLA legislation back in May with a number of other very important provisions. On September 26, however, the Senate struck out those other provisions and sent us back the bill that is before us today. While I am urging my colleagues to support H.R. 4085, as amended, I want to assure them that we are continuing to work with our colleagues in the other body to reach agreement on these other vital provisions.”