From $1,400 To $8,333': New Bill To Provide 492% Pension Boost For Medal Of Honor Recipients—Will Congress Approve It?

Comments
Loading...

If there's one thing both sides of Congress can agree on, it's that America's most decorated military heroes deserve better financial support. 

In a rare moment of bipartisan unity, the U.S. House of Representatives just gave a unanimous thumbs-up to the Medal of Honor Act—a major boost for living recipients of the nation's highest military decoration. According to Millitary.com, this marks the biggest upgrade to Medal of Honor benefits in over a century.

A Pay Raise That's Been a Long Time Coming

Right now, Medal of Honor recipients get a pension of $1,406.73 per month, or about $16,880 per year—not exactly a life-changing amount. That's about to change.

Don't Miss:

The new bill bumps the pension to $8,333.33 per month, or $100,000 per year, and adds an annual cost-of-living adjustment to keep up with inflation. This change updates Title 38 of the U.S. Code, which governs veterans' benefits.

The good news? This increase is on top of any other veteran benefits recipients already receive—nothing gets reduced. The bill passed the House with a jaw-dropping 424-0 vote, proving just how much lawmakers support this move. 

Rep. Troy Nehls (R-TX), one of the bill's main backers said, "Medal of Honor recipients are brave heroes whose selflessness and valor should inspire every American," Rep. Chris Pappas (D-NH) echoed that sentiment, saying, "We must honor our service members that have earned this award by ensuring they are financially secure after their military service is over." 

Trending: It’s no wonder Jeff Bezos holds over $250 million in art — this alternative asset has outpaced the S&P 500 since 1995, delivering an average annual return of 11.4%. Here’s how everyday investors are getting started.

This bipartisan agreement speaks volumes about the bill's importance. Now, the bill heads to the Senate, where it's expected to pass without much trouble. Sen. Ted Cruz (R-TX) has already introduced a companion bill to keep things moving. The Senate's strong bipartisan backing makes passage almost certain.

Right now, there are only 61 living Medal of Honor recipients, with their bravery spanning conflicts from Vietnam to the War on Terror. Since its creation in 1863, the Medal of Honor has been awarded more than 3,500 times, often posthumously. According to the Congressional Medal of Honor Society, these individuals represent the highest level of valor and sacrifice. The growing pension reflects a broader national recognition of the true costs of military service.

Read Next:

Market News and Data brought to you by Benzinga APIs

Posted In: