Congress has passed the Veterans’ Compensation Cost-of-Living Adjustment Act of 2014, and it will increase veterans disability payments for millions of veterans and their dependents. The government released the final figure on Wednesday, Oct. 22, and the increase will be 1.7 percent. The bill provides increases in these areas, beginning Dec. 1, 2014:
- disability compensation
- additional compensation for dependents
- clothing allowance
- dependency and indemnity compensation to surviving spouse, and
- dependency and indemnity compensation to children.
Use the calculator below to determine how much your total net income would be with a 1.7 percent increase adjustment for cost-of-living.
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