President Obama signed into law the Veterans’ Compensation COLA Act of 2016 on July 22. The act, H.R. 5588, proposed by Congressman Ralph Abraham (R-LA), provides veterans with an increased rate of disability benefits. The new law will go into effect Dec. 1, 2016. The Department of Veterans Affairs will also be required to increase additional compensation for dependents, clothing allowance for certain disabled veterans, and dependency and indemnity compensation for surviving spouses and children.