A bill to apply social security benefit cost-of-living adjustments and general benefit increases to monthly benefits payable under the veterans' laws and to amend title 38 of the United States Code to make certain that recipients of veterans' pension and compensation will not have the amount of such pension or compensation reduced because of increases in monthly social security benefits or railroad retirement annuities.

Provides that if any cost-of-living increase is made in old-age and survivors insurance benefits payable under title II of the Social Security Act after December 31, 1975, or if any general benefit increase is made under such Act after such date, the Administrator of Veterans' Affairs shall increase specified benefit payments to veterans by the same percentage. Specifies that the following benefits shall be subject to such provision: (1) compensation for both service-connected and non-service- connected disability; and (2) dependency and indemnity compensation.

Provides that recipients of veterans' pension and compensation shall not have the amount of such pension or compensation reduced because of increases in monthly social security benefits or railroad retirement benefits.