H.R. 2494, a bill to amend title 38, United States Code, to establish the Veterans Economic Opportunity and Transition Administration, and for other purposes
Cost Estimate
As ordered reported by the House Committee on Veterans’ Affairs on May 4, 2021
H.R. 2492 would authorize the appropriation of just over $3.2 billion in 2022 for the general operating expenses of the Veterans Benefit Administration. For 2021, the Congress appropriated about $3.2 billion for that purpose. CBO estimates that spending would increase by $3 billion over the 2022-2026 period, assuming appropriation of the specified amount. On the basis of historical spending patterns, CBO estimates that the remainder of the authorized amount would not be spent.
The bill also would create a new administration in the Department of Veterans Affairs (VA) to manage several of its programs. The Veterans Benefits Administration (VBA) currently manages the following benefit programs for veterans and other eligible individuals:
• Disability compensation;
• Pension, dependency and indemnity compensation, burial, and fiduciary programs;
• Insurance;
• Readjustment benefits (such as employment programs, education assistance, and vocational rehabilitation benefits);
