EXECUTIVE OFFICE OF THE PRESIDENT
OFFICE OF MANAGEMENT AND BUDGET
WASHINGTON, D.C. 20503
STATEMENT OF ADMINISTRATION POLICY
(THIS STATEMENT HAS BEEN COORDINATED BY OMB WITH THE CONCERNED AGENCIES.)
October 28, 1997
H.R. 2367 - Veterans' Compensation Cost-of-Living Adjustment Act of 1997
(Stump (R) AZ and 21 cosponsors)
The Administration strongly supports H.R. 2367, which provides a cost-of-living adjustment (COLA) for the beneficiaries of veterans' disability compensation and Dependency and Indemnity Compensation.
H.R. 2367 would affect direct spending; therefore, it is subject to the pay-as-you-go requirement of the Omnibus Budget Reconciliation Act of 1990 (OBRA). Because OBRA requires that the full compensation COLA be assumed in the baseline, the pay-as-you-go effect of the COLA in H.R. 2367 is zero. In addition, the bill's provision to "round down" monthly benefit payments was previously enacted in the Balanced Budget Act of 1997; therefore, its pay-as-you-go effect is also zero.