Veterans’ Compensation Cost-of-Living Adjustment Act of 2023

This bill adjusts veterans' disability and survivor benefits to match the annual cost-of-living increase for Social Security. It requires the Veterans Affairs Secretary to raise specific payments - such as disability compensation for veterans, dependency payments for spouses and children, and clothing allowances - effective December 1, 2023, by the same percentage as the Social Security COLA for that year. The adjustment directly affects veterans receiving disability compensation under 38 U.S.C. § 1114, surviving spouses under § 1311, and children under §§ 1313-1314, as well as those receiving clothing allowances. The change ensures these benefits keep pace with inflation, using the Social Security Act’s established adjustment formula.