H.R. 570, American Heroes COLA Act

Cost Estimate
May 14, 2013

As ordered reported by the House Committee on Veterans’ Affairs on May 8, 2013

H.R. 570 would provide a permanent annual cost-of-living adjustment (COLA) to the amounts paid to veterans for disability compensation and to their survivors for dependency and indemnity compensation, and would round down that adjustment to the next lower whole dollar. The effective date of those provisions would be December 1, 2014. CBO estimates that enacting H.R. 570 would decrease direct spending by $26 million in 2015 and by about $1.4 billion over the 2015-2023 period.

Pay-as-you-go procedures apply because enacting the legislation would affect direct spending. Enacting H.R. 570 would not affect revenues.

H.R. 570 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA).