H.R. 2911, Fairness for Servicemembers and their Families Act of 2024
As ordered reported by the House Committee on Veterans’ Affairs on May 1, 2024
By Fiscal Year, Millions of Dollars
2024
2024-2029
2024-2034
Direct Spending (Outlays)
0
0
0
Revenues
0
0
0
Increase or Decrease (-) in the Deficit
0
0
0
Spending Subject to Appropriation (Outlays)
0
*
not estimated
Increases net direct spending in any of the four consecutive 10-year periods beginning in 2035?
No
Statutory pay-as-you-go procedures apply?
No
Mandate Effects
Increases on-budget deficits in any of the four consecutive 10-year periods beginning in 2035?
No
Contains intergovernmental mandate?
No
Contains private-sector mandate?
No
* = between zero and $500,000.
Summary
H.R. 2911 would require the Department of Veterans Affairs (VA) to review the maximum coverage available under the Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI) programs. SGLI and VGLI are life insurance programs for current servicemembers and veterans. Under current law, $500,000 is the maximum allowable coverage for each program. Under the bill, VA would review and report to the Congress in 2025 and every five years thereafter on what the limit would be if it had been adjusted for inflation during the five years preceding the review. Based on the cost of similar reports, CBO estimates satisfying that requirement would cost less than $500,000 over the 2024-2029 period. Any spending would be subject to the availability of appropriations.
