Duval Times

WASHINGTON, D.C. — Today, Senator Rick Scott and Senator Jon Ossoff have unveiled a bipartisan bill aimed at reducing costs for servicemembers and their families. The initiative, known as the SCRA Benefit Utilization Act, seeks to broaden access to financial protections and benefits available to active duty servicemembers and their families.

According to a Consumer Financial Protection Bureau report, the Servicemembers Civil Relief Act (SCRA) offers legal and financial safeguards to active duty servicemembers, including National Guard and reserve members, and their families. However, the report indicates that these benefits are often underutilized.

Senator Rick Scott emphasized the importance of the bill, stating, “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."

Senator Jon Ossoff echoed these sentiments, highlighting the need to expand access to financial protections for servicemembers and their families. Ossoff stated, “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.”

Additionally, Congressman Matt Cartwright introduced companion legislation in the U.S. House of Representatives, emphasizing the importance of supporting servicemembers in managing their finances. Cartwright said, “Financial issues should not distract our brave men and women in uniform from their mission. 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."

The SCRA Benefit Utilization Act aims to enhance financial literacy programs, include benefit information on activation orders, and impose a 6 percent cap on eligible accounts when servicemembers invoke their SCRA rights. This bipartisan effort underscores the commitment to safeguarding the financial well-being of servicemembers and their families.