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1 H.R. 4958, Veterans' Compensation Cost-of-Living Adjustment Act of 2018 [1] (May 9, 2018)

handle is hein.congrec/cbomaydm0001 and id is 1 raw text is: CONGRESSIONAL BUDGET OFFICE C COST ESTIMATE May 9, 2018 H.R. 4958 Veterans' Compensation Cost-of-Living Adjustment Act of 2018 As ordered reported by the House Committee on Veterans' Affairs on May 8, 2018 H.R. 4958 would increase the amounts paid to veterans for disability compensation and to their survivors for dependency and indemnity compensation by the same cost-of-living adjustment (COLA) that recipients of Social Security receive in 2019. The increase would take effect on December 1, 2018. The COLA that would be authorized by this bill is assumed in CBO's baseline, consistent with section 257 of the Balanced Budget and Emergency Deficit Control Act. Because the COLA is assumed in CBO's baseline, authorizing its use would have no budgetary effect relative to the baseline. Relative to current law, CBO estimates that enacting this bill would increase spending for those programs by $1.5 billion in fiscal year 2019. CBO estimates that the COLA effective on December 1, 2018, will be 2.3 percent. (The annualized cost would be about $2.0 billion in subsequent years.) Pay-as-you-go procedures do not apply because enacting H.R. 4958 would not affect direct spending relative to the baseline and would not affect revenues. CBO estimates that enacting H.R. 4958 would not increase net direct spending or on- budget deficits in any of the four consecutive 10-year periods beginning in 2029. H.R. 4958 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act. The CBO staff contact for this estimate is Logan Smith. The estimate was reviewed by Leo Lex, Deputy Assistant Director for Budget Analysis.

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