A bill to amend title 38, United States Code, to increase rates of disability compensation for disabled veterans, and for other purposes.

Increases the rates of disability compensation for disabled veterans. Enables the Administrator of Veterans' Affairs to adjust administratively, consistent with the increases authorized by this Act, the rates of disability compensation payable to persons receiving benefits on December 31, 1958, who are not in receipt of compensation payable for service connected disability or death. (Amends 38 U.S.C. 314, 315)