Rep. Jones Votes To Increase Benefits For Our Nation's Veterans

Third District Congressman Walter B. Jones today voted in favor of HR 4085, the Veterans' Compensation Cost-of-Living Adjustment Act of 2002 (COLA). The bill passed overwhelmingly this evening on the House floor. HR 4085 makes several changes to veterans' programs including disability compensation, dependency and indemnity compensation (DIC), housing, insurance, and readjustment benefits. Among the many provisions in the bill, the COLA Act of 2002 will: Allow surviving spouses of deceased veterans, who remarry after age 65, to continue to receive DIC payments. (This provision will apply retroactively to spouses who apply within one year of the bill's enactment.) Base annual increases in benefits paid to veterans for disability compensation and to their survivors for DIC on the Social Security cost of living adjustment. Lower home loan guarantee fees paid by qualified members of the selected reserves to the same rate as active duty veterans, reducing the fee from 2-2.75 percent of the loan amount to 1.25-2 percent. Increase the maximum mortgage life insurance coverage provided to certain severely disabled veterans who have received grants for specially adapted housing from the VA from $90,000 to $150,000. Increase the annual amount provided to state approving agencies for administrative expenses by $5 million each year in 2003, 2004 and 2005. "I am proud to support legislation that guarantees so many benefits to so many people, thousands of whom live in the Third District of North Carolina," Congressman Jones said today following passage of the bill. "67,000 veterans live in the Third District, including 13,584 military retirees. As we approach Memorial Day, these men and women need to know that our government and the American people appreciate the many sacrifices they made." "America's veterans are also America's heroes. They deserve the best we can offer," Jones said. "I believe HR 4085 continues to ensure that those heroes receive the support they have earned." For additional information or to schedule an interview with Congressman Jones contact Lanier Swann at (202) 225-3415