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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release November 1, 2000

STATEMENT BY THE PRESIDENT

Today I am pleased to sign into law H.R. 4850, the "Veterans' Compensation Cost-of-Living Adjustment Act of 2000." The Act directs the Secretary of Veterans Affairs to provide a cost-of-living adjustment (COLA) in benefits for service-disabled veterans and their surviving spouses and children, effective December 1, 2000. It provides for higher payments of disability compensation to veterans who suffer from service-connected disabilities and for higher payments of dependency and indemnity compensation for the surviving spouses and children of servicemembers and veterans whose deaths were service-connected. Consistent with the proposal in my Fiscal Year 2001 Budget, the COLA in these benefits is equal to the one that will be provided under current law to Social Security beneficiaries and veterans pension recipients: 3.5 percent. This Act ensures that the value of these well-deserved benefits will keep pace with inflation.

This group of American citizens deserves our Nation's gratitude, particularly those who have suffered disability or have made the supreme sacrifice while serving their country and protecting our freedom. This Act expresses our appreciation for and continued commitment to these brave men and women.

WILLIAM J. CLINTON

                                   THE WHITE HOUSE,
                                   November 1, 2000.

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