WASHINGTON, D.C, – Last week, Senators Jim Banks (R-Ind.) and Maggie Hassan (D-N.H.) introduced the Veterans Opportunity Act to streamline VA programs that help veterans achieve economic success after serving in the U.S. military by establishing an Under Secretary for Veterans Economic Opportunity and Transition. The Veterans Economic Opportunity and Transition Administration would reorganize existing VA employees and programs, not expand the size or scope of VA. It would manage employment, vocational rehabilitation, educational assistance, home loan, transition, and other economic opportunity programs formerly housed in the Veterans Benefits Administration.
Senator Jim Banks (R-Ind.): “From their years of service, veterans bring leadership, discipline, and highly transferable skills to civilian employment, they’re ready to succeed from day one. This bill helps veterans transition into civilian life and ensures our heroes have access to the educational and financial resources they’ve earned.”
Senator Maggie Hassan (D-N.H.): “Veterans have made tremendous sacrifices to keep our country safe, secure, and free. One of the ways we can recognize their service is to ensure that veterans are able to access good, high-paying jobs after their service. This bipartisan bill will help the VA provide greater focus on support services for veterans who are transitioning back into the workforce and will help grow our economy as well.”
Jared Lyon, National President, and CEO, Student Veterans of America: “Economic opportunity is a key pillar of a successful transition and long-term well-being for veterans. We thank Senators Banks and Hassan for their continued leadership and urge the advancement of this important legislation. Veterans deserve a VA that champions their full potential, and this bill is a vital step in that direction.”
Senators Rick Scott (R-Fla.) and Catherine Cortez Masto (D-N.M.) are original cosponsors of the bill.
Key Provisions of the Veterans Opportunity Act:
- Reorganizes VA to create a new Administration led by a Senate-confirmed Under Secretary dedicated to economic opportunity and transition programs.
- Moves key programs like vocational rehabilitation, GI Bill education benefits, VA home loans, and the Transition Assistance Program (TAP) under one roof.
- Requires annual reporting to Congress on performance metrics like claim volume, processing times, and outcomes.
- Includes safeguards that the reorganization will not increase bureaucracy or reduce services to veterans.
Full bill text can be found here.
Background:
A previous version of the Bill, The Veterans Economic Opportunity and Transition Administration Act was introduced in the House by Rep. Brad Wenstrup (R-Ohio) andpassed the House of Representatives in April 2024.
Former Sen. Marco Rubio most recently introduced a companion version in the Senate during the 118th Congress.