U.S. Senators Ted Cruz (R-Texas), John Cornyn (R-Texas), Maggie Hassan (D-N.H.), and Angus King (I-Maine) have announced the passage of the Fairness for Servicemembers and their Families Act in the Senate. The bipartisan bill aims to ensure that life insurance benefits for service members and veterans are adjusted to reflect changes in the cost of living and inflation. The legislation will now be sent to the President for signature.
Senator Cruz stated, “Our nation’s servicemembers and veterans put their lives on the line to protect America and defend our freedom. I am proud to partner with my colleagues to honor and provide for those who bravely sacrificed to serve the United States of America. Adjusting the value of life insurance policies for servicemembers and veterans in line with inflation will ensure that America rightly honors their memory and cares for their loved ones after they are gone.”
Senator Hassan commented, “While we can never fully repay the debt that we owe to those who serve our country, we should work each and every day to get them the benefits that they deserve. This bipartisan legislation will help ensure that the life insurance offered for our veterans and servicemembers is keeping pace with real-world costs to help protect the financial security of the families of those who serve.”
Senator Cornyn said, “We need to make sure service members, veterans, and their families have the financial support they need and deserve. Our bill will help ensure the Veterans Affairs Department can offer competitive life insurance packages that keep pace with the current cost of living.”
Senator King added, “Abraham Lincoln himself said that America ‘must care for him who shall have borne the battle;’ 150 years later we must keep that promise to the brave men and women who served our country in uniform. Our servicemembers, veterans, and their families make incredible sacrifices every day to protect our nation, and it is our responsibility to support them. I am proud to see the bipartisan Fairness for Servicemembers and their Families Act pass the Senate, ensuring that life insurance packages for military members keep up with the rising cost of living. This legislation will give more peace of mind to military families in the midst of turbulent economic times, and I look forward to seeing it signed into law.”
The bill is also cosponsored by Senators Thom Tillis (R-N.C.), Pete Ricketts (R-Neb.), Mark Kelly (D-Ariz.), and Mazie Hirono (D-Hawaii). In addition, Representatives Marilyn Strickland (D-Wash.-10) and Keith Self (R-Texas-03) are leading efforts in the House.
According to background information provided by lawmakers, from 2006 through 2023, maximum group insurance values available for service members and veterans did not increase despite inflation rates rising during this period. The new act would require a report every five years from relevant federal departments regarding cost-of-living adjustments, aiming to prevent future gaps between benefit levels and inflation.
In recent election cycles, Senator Ted Cruz has continued his tenure representing Texas in Congress by defeating several challengers: Colin Allred in 2024 with 53.1% of votes against Allred's 44.6%, Beto O'Rourke in 2018 with 50.9% versus O'Rourke's 48.3%, and Paul Sadler in 2012 with 56.5% over Sadler's 40.6%.
