WASHINGTON, D.C. – Today, U.S. Senator Jacky Rosen (D-NV) announced the introduction of two new bipartisan pieces of legislation to support veterans and current servicemembers. One of Rosen’s new bills would reform how new enlistees choose their GI Bill benefits plan. This bipartisan legislation yesterday passed the U.S. House of Representatives by a vote of 408 – 0. Rosen’s other new bipartisan bill would expand access to affordable housing by ensuring that veterans and servicemembers are aware of the home loan financing options that they are entitled to, including the VA home loan.
“Over 225,000 veterans live in Nevada who have made great sacrifices for our state and our nation,” said Senator Rosen. “I am proud to introduce two bipartisan bills that would improve the lives of veterans by providing new recruits with additional time to pick their preferred GI Bill benefits plan, instead of having to do so upon arrival at Basic Training, as well as improving access to affordable housing through the VA home loan program. I applaud the House’s passage of the GI Bill Planning Act, and I urge the Senate to take up both of these bills for a vote.”
BACKGROUND: Senator Rosen’s bipartisan GI Bill Planning Act of 2019 (S. 2830), which she introduced with Senator John Barrasso (R-WY), would provide military enlistees additional time to pick their preferred GI Bill education benefits plan, instead of having to do so at arrival at Basic Training, which is a deliberately chaotic environment with little opportunity for recruits to make an informed decision about their future. This legislation is endorsed by Student Veterans of America, VFW, and Veterans Education Success.
Senator Rosen’s bipartisan Access to Affordable Housing for Veterans Act (S. 2835), which she introduced with Senator Pat Roberts (R-KS), would work to ensure that veterans are proactively made aware of their VA home loan options, including providing them information about whether or not such an option is more affordable than a conventional loan. This bill would amend the Department of Housing and Urban Development’s (HUD) existing Informed Consumer Choice Disclosure Notice to require information about the VA home loan, side-by-side with information about the Federal Housing Administration (FHA) insured loan and conventional loan options, if the consumer is a veteran. Currently, the Informed Consumer Choice Disclosure Notice that prospective veteran-borrowers receive from lenders does not provide a cost comparison for the VA home loan, which is a unique option for eligible veterans that is often their most affordable choice.