Washington, D.C. — U.S. Senator Jon Ossoff is introducing a bipartisan bill to lower costs for Georgia servicemembers and their families.
Today, Sens. Ossoff and Rick Scott (R-FL) introduced the bipartisan SCRA Benefit Utilization Act to expand access to financial protections and benefits available to active duty servicemembers and their families.
The Servicemembers Civil Relief Act (SCRA) provides legal and financial protections to active duty servicemembers, including National Guard and reserve members, and their families; however, the benefit is often underutilized, according to a Consumer Financial Protection Bureau report.
The bipartisan bill would expand existing financial literacy programs to include information about these protections; require the Department of Defense’s annual survey to include information about these programs; include benefit information on all activation orders; and require creditors to apply a 6 percent cap to all eligible accounts under their jurisdiction once a servicemember invokes their SCRA rights.
“Georgia’s servicemembers and their families deserve the very best, yet many are unaware of key benefits to help them save money. I’m introducing this new bipartisan bill to expand access to these key financial protections for our heroic servicemembers and help them save money and build wealth,” Sen. Ossoff said.
“Our servicemembers who put everything on the line don’t deserve to be taken advantage of—especially when it comes to their financials. I am proud to join my colleague Senator Ossoff to lead the bipartisan SCRA Benefit Utilization Act that will provide more ease and access to the legal and financial protections our active duty members are entitled to for their personal, auto and student loans, as well as increase financial literacy resources. We must continue to protect our servicemembers, especially as these brave Americans serve our country and protect our freedoms,” Sen. Scott said.
Companion legislation was introduced in the U.S. House of Representatives by Congressman Matt Cartwright (PA-08).
“Financial issues should not distract our brave men and women in uniform from their mission,”
said Congressman Matt Cartwright. “This bipartisan, bicameral legislation identifies commonsense opportunities to improve benefit awareness, increase the likelihood of substantial financial savings, and enhance the overall readiness of our armed forces. I am grateful to Senators Ossoff and Scott for taking lead on getting this vital legislation through the Senate.”
Sen. Ossoff continues to champion Georgia’s servicemembers and military families.
Last month, Sens. Ossoff and Eric Schmitt (R-MO) introduced the bipartisan Military Spouse Job Continuity Act to permanently authorize reimbursements for military spouses who are forced to pay fees for the transfer of their professional licenses or certifications due to a Permanent Change of Station.
In January, a key provision of Sen. Ossoff’s bipartisan Military Facilities Upgrades Act with Sen. James Lankford (R-OK) was signed into law as part of the 2024 National Defense Authorization Act (NDAA), which will upgrade old and failing barracks by giving the Armed Services the flexibility to use operations and maintenance (O&M) funding to replace barracks deemed to be in substandard condition.
Sen. Ossoff also announced the bipartisan Junior Enlisted Housing Affordability Act with Sen. Thom Tillis (R-NC) to update how DoD calculates housing allowances for junior enlisted servicemembers with dependents to more accurately assess their housing costs, was signed into law as part of this year’s National Defense Authorization Act (NDAA).
Click here to read the SCRA Benefit Utilization Act.
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