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Reduce VA’s Disability Benefits for Veterans Who Are Older Than the Full Retirement Age for Social Security: https://www.cbo.gov/budget-options/60917
End VA’s Individual Unemployability Payments to Disabled Veterans at the Full Retirement Age for Social Security: https://www.cbo.gov/budget-options/60916
Introduce Means-Testing for Eligibility for VA’s Disability Compensation: https://www.cbo.gov/budget-options/60915#:~:text=CBO%20estimates%20that%20nearly%2030,would%20decrease%20by%20one%20dollar.
Narrow Eligibility for VA's Disability Compensation by Excluding Veterans With Low Disability Ratings: https://www.cbo.gov/budget-options/60918#:~:text=Under%20this%20option's%20first%20alternative,December%2012%2C%202024
Include VA's Disability Payments in Taxable Income: https://www.cbo.gov/budget-options/60947
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What YOU can LEARN from this video?
1. Proposed Cuts to VA Benefits by CBO:
The Congressional Budget Office (CBO) has proposed several significant cuts to veterans' benefits, including reducing VA disability payments for veterans over the Social Security retirement age (67), eliminating or restricting Individual Unemployability (IU) payments, and other impactful measures.
2. Potential Eligibility Changes:
Proposed changes include introducing means testing for VA disability compensation, which would limit full benefits to veterans with total household incomes below $135,000. Additionally, new applicants may require a disability rating of 30% or higher to qualify for any VA compensation.
3. Impact on Veterans:
Many veterans depend entirely on VA benefits to survive, with rising costs of living and limited additional income. The proposals could leave those at lower disability ratings or with household income over the threshold without crucial financial support.
4. Suggestions for Veterans:
Veterans and YouTubers are encouraged to collaborate and raise awareness about these proposed changes. Dwayne suggests utilizing tax strategies and legal structures, such as LLCs, to manage household income levels and protect benefits.
5. Call to Action:
Veterans should stay informed, attend town hall meetings, and communicate with their representatives to voice concerns. Dwayne emphasizes the importance of education and advocacy to prevent these proposals from becoming permanent law.
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Chapter List:
00:00 Introduction
00:49 Join Our Monthly Membership
01:04 CBO Proposed Budget Cuts - What's on the Chopping Block
01:51 Slide 1 - Reduce Benefits for Vets Older Than 67
04:50 Slide 2 - End IU at Full Retirement Age
08:45 Slide 3 - Introduce Means-Testing for Eligibility
12:51 Slide 4 - Exclude Vets with Low Disability Ratings
14:55 Slide 5 - Make Disability Compensation Taxable Income
15:25 Where Do We Go From Here?
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DISCLAIMER: KMD89 VA Claims Consulting is a consulting company that is not holding itself out as a representative of veterans in any capacity with any government agency of any kind. We are not advisers, claims agents, veteran service officers, medical/mental health professionals or VA representatives and do not represent anyone before the VA. These videos are for educational/informational purposes only, and anyone watching these videos understands that the information is for these purposes only and it is not to be solely relied upon for the Veterans Affairs compensation process as it is only a broad and general overview of the VA claims process. While it is possible to maximize your benefits, it’s solely your responsibility to become educated on the VA disability compensation claims process. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of any benefits.
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