In this week’s edition:
Debt Ceiling Debate Continues, FY 2012 Spending Bills Advance
House Panel Discusses U.S. Coast Guard Authorization
Restoring GI Bill Fairness Act Sent to President
OSA, CFPB Ready to Help Military Consumers
Debt Ceiling Debate Continues, FY 2012 Spending Bills Advance
As this edition of NewsBytes is being sent, negotiations continue on proposals to increase the nation’s debt ceiling or face a government default. Any final agreement will impact the FY 2012 budget and, as the August 2nd default deadline looms, appropriators are working on spending bills so the measures can be passed quickly if/when a final agreement is reached.
The House has passed six of the 12 national spending bills for FY 2012, including Defense Appropriations (H.R. 2219), Military Construction/Veterans Affairs Appropriations (MilCon/VA, HR 2055), and Homeland Security Appropriations (HR 2017), which includes funding for the U.S. Coast Guard. The Senate has only passed its version of the MilCon/VA spending bill, which is the only major spending bill for the coming fiscal year to pass both chambers. Both the House and Senate versions designate $52.5 billion in advance FY 2013 appropriations for VA medical programs.
House Panel Discusses U.S. Coast Guard Authorization
FRA submitted testimony in conjunction with a hearing of the House Coast Guard and Maritime Subcommittee this week. The Coast Guard’s current authorization expires October 1, 2011, and the Association strongly supports timely enactment of legislation that will provide congressional budgeting and effective oversight of the service and its wide ranging missions.
Subcommittee Chairman Rep. Frank LoBiondo (N.J.) said ensuring Coast Guard parity with DoD personnel programs is a top priority of any re-authorizating legislation for FY 2012, which is expected to be introduced in the near future. FRA advocates the measure should include adequate funding for the Coast Guard Health Care Fund (HCF), funding for a 1.6-percent pay increase for 2012 that equals the 2010 Employment Cost Index (ECI), improved family housing, and access to affordable child care. A copy of FRA’s statement is available HERE.
Restoring GI Bill Fairness Act Sent to President
The House of Representatives unanimously passed Senate-approved legislation that increases the tuition cap to $27,000 for some veterans attending private schools. In order to qualify for the increased benefit, the veteran must have been enrolled in a private school before last year’s reform bill (The Post-9/11 Veterans Assistance Improvement Act) capped private school tuition at $17,500. The reform measure created a problem for veterans already enrolled in higher-priced, private programs and Rep. Jeff Miller (Fla.), chairman of the House Veterans’ Affairs Committee, introduced the pending legislation (Restoring GI Bill Fairness Act of 2011, H.R. 1383) to ensure these veterans will be able to complete their education using the benefits specified in the original Post-9/11 GI Bill, which was enacted in 2008.
Pending the President’s signature, the change will take effect on August 1, 2011, protecting student veterans enrolled in private schools from what would have been serious reductions in tuition payments.
OSA, CFPB Ready to Help Military Consumers
The Consumer Financial Protection Bureau (CFPB) and its Office of Servicemember Affairs (OSA) are operational and ready to assist service members and families who have questions or complaints about consumer financial products and services. The OSA was established as part of last year’s financial regulation law and strongly supported by FRA.
The need for OSA was demonstrated earlier this year when the House Veterans’ Affairs Committee (HVAC) held hearings and heard complaints about banks ignoring and abusing the Servicemembers Civil Relief Act. Holly Petreaus, director of the OSA, pledged to work on educating military personnel about their financial protections and best financial practices.
The CFPB’s Consumer Response Center is now accepting credit card complaints on its newly redesigned website, ConsumerFinance.gov, and will also refer distressed homeowners to housing counselors via the Homeowner’s HOPE Hotline. Over the coming months, the agency will expand its Consumer Response Center to handle complaints about other consumer financial products and services under its jurisdiction.
