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The Veterans' Compensation Cost-of-Living Adjustment Act of 2014 is a bill that would, beginning on December 1, 2014, increase the rates of veterans' disability compensation, additional compensation for dependents, the clothing allowance for certain disabled veterans, and dependency and indemnity compensation for surviving spouses and children.
Senate salaries House of Representatives salaries. This chart shows historical information on the salaries that members of the United States Congress have been paid. [1] The Government Ethics Reform Act of 1989 provides for an automatic increase in salary each year as a cost of living adjustment that reflects the employment cost index. [2]
5 U.S.C. § 5315 lists 346 non-obsolete positions that receive pay at Level IV of the Executive Schedule. As of January 2024, the annual rate of pay for Level IV positions is $191,900. [2] Annual pay for General Schedule employees, including locality pay and special rates, may not exceed this level. [4]
Data source: Social Security Administration. As shown above, CPI-E inflation averaged 3.4% through the first eight months of 2024. That is three-tenths of a percent above the average CPI-W reading.
It projects a benefits increase in 2025 of 2.5%. This prediction lines up with what independent Social Security and Medicare analyst Mary Johnson estimates next year's COLA will be.
The 2023 budget that became law in October is a two-year spending plan covering the fiscal years of July 1, 2023 through June 30, 2025. The bill built in the raises to be doled out over two years.
The fiscal year 2010 president's budget request for a 2.9% military pay raise was consistent with this formula. However, Congress, in fiscal years 2004, 2005, 2006, 2008, and 2009 approved the pay raise as the ECI increase plus 0.5%. The 2007 pay raise was equal to the ECI. A military pay raise larger than the permanent formula is not uncommon.
The projected 2025 COLA for Social Security is 2.5%, according to an emailed September 11 TSCL press release, resulting in another drop. That percentage is likely to change, but the concern is ...