Federal officials aren’t expected to announce the Social Security benefits adjustment until mid-October.
If that estimate is correct, it would be the highest annual increase since 1981.
For a veteran receiving about $1,500 in monthly payouts, that level of increase would mean about $130 extra each month.
Social Security and some other federal benefits are adjusted each year, to reflect increases in basic family costs like rent, groceries and utilities.
Lawmakers must pass legislation annually to link the two sets of benefits to ensure that veterans’ payouts keep pace with those increasing costs.
“We have a responsibility to ensure veterans’ benefits are keeping pace with a changing economy,” said Senate Veterans’ Affairs Committee Chairman Jon Tester, D-Mont.
Advocates have pushed in the past to permanently link the veterans benefits and Social Security cost-of-living adjustments, but thus far have not been successful. »
