Increases Pension for Medal of Honor Recipients
Official: Medal of Honor Act
This bill increases the pension payments for living recipients of the Medal of Honor, the highest military award in the United States.
Medal of Honor Act This bill increases the monthly special pension for living Medal of Honor recipients from $1,406.73 to $8,333.33 and establishes a rate of $1,406.73 for the monthly special pension for surviving spouses of Medal of Honor recipients. Both amounts must be adjusted annually for inflation.
1. This bill raises the monthly pension for living Medal of Honor recipients to match a higher compensation rate. 2. The new pension amount will be based on the monthly compensation paid to veterans without dependents. 3. The bill ensures that the pension amount will not increase more than once per year. 4. It also extends the payment limits for certain pensions until January 31, 2023.
This bill primarily affects living Medal of Honor recipients and their families.