Trump signs 'Medal of Honor Act' to raise pensions for America's military heroes

President Donald Trump signed into law the "Medal of Honor Act, which directs the Department of Veterans Affairs to "increase the rate of the special monthly pension payable to living Medal of Honor recipients," the White House said.

The move "ensures Medal of Honor recipients are rightfully compensated with an increase to their pension after their military service is over," according to the White House.

"Medal of Honor recipients truly embody the best of our nation," Rep. Troy Nehls, R-Texas, who sponsored the legislation, said Monday following Trump's signature.

The 63 currently living Medal of Honor recipients receive a special pension of $16,880 annually, but the Medal of Honor Act now increases that pension "to around $67,500 annually, a nearly fourfold increase," the Republican's office said.

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"They never ask for special recognition or demand special treatment. Many of the living Medal of Honor recipients spend most of their time traveling our country, telling their stories inspiring the next generation of America’s heroes," Nehls added in a statement.

"My bill, the Medal of Honor Act, eases their financial burden by increasing their special pension — ensuring they know that America is grateful for all they’ve done to serve our country and defend our freedoms," he continued.

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"I am beyond grateful to President Trump, our Commander in Chief, for signing my bill into law," Nehls also said. "The least we can do is lift the financial burden off of these selfless warriors who continue to serve our great nation."  

The first Medal of Honor was given to Army Private Jacob Parrott in 1863, according to Nehls' office.

There have been 3,528 total recipients, the Congressional Medal of Honor Society said.

"These individuals are heroes. The Medal of Honor recipients are extraordinary," Sen. Ted Cruz, R-Texas, said in a video posted on Instagram Monday. "We see you. We remember you. We are grateful for you."