[Congressional Record Volume 170, Number 187 (Tuesday, December 17, 2024)]
[Senate]
[Page S7096]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]





       FAIRNESS FOR SERVICEMEMBERS AND THEIR FAMILIES ACT OF 2023

  Mr. SCHUMER. Mr. President, I ask unanimous consent that the 
Committee on Veterans' Affairs be discharged from further consideration 
of S. 1299 and the Senate proceed to its immediate consideration.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The senior assistant legislative clerk read as follows:

       A bill (S. 1299) to amend title 38, United States Code, to 
     require the Secretary of Veterans Affairs to periodically 
     review the automatic maximum coverage under the 
     Servicemembers' Group Life Insurance program and the 
     Veterans' Group Life Insurance program, and for other 
     purposes.

  There being no objection, the committee was discharged, and the 
Senate proceeded to consider the bill.
  Mr. SCHUMER. I ask unanimous consent that the Cornyn substitute 
amendment at the desk be considered and agreed to; that the bill, as 
amended, be considered read a third time and passed; and that the 
motion to reconsider be considered made and laid upon the table.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The amendment (No. 3341) was agreed to, as follows:

                (Purpose: In the nature of a substitute)

        Strike all after the enacting clause and insert the 
     following:

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Fairness for Servicemembers 
     and their Families Act of 2024''.

     SEC. 2. PERIODIC REVIEW OF AUTOMATIC MAXIMUM COVERAGE UNDER 
                   SERVICEMEMBERS' GROUP LIFE INSURANCE AND 
                   VETERANS' GROUP LIFE INSURANCE.

       (a) In General.--Subchapter III of chapter 19 of title 38, 
     United States Code, is amended by adding at the end the 
     following new section:

     ``Sec. 1980B. Periodic review of automatic maximum coverage

       ``(a) In General.--On January 1, 2025, and every five years 
     thereafter, the Secretary shall--
       ``(1) complete a review of how the amount specified in 
     section 1967(a)(3)(A)(i) compares to the amount described in 
     subsection (b); and
       ``(2) submit to the Committees on Veterans' Affairs of the 
     House of Representatives and the Senate the results of the 
     review, which may serve as a guide for coverage increases 
     within the existing administrative incremental structure.
       ``(b) Amount Described.--The amount described in this 
     subsection is the amount equal to--
       ``(1) $500,000; multiplied by
       ``(2) the average percentage by which the Consumer Price 
     Index changed during the five fiscal years preceding the 
     review under subsection (a).
       ``(c) Consumer Price Index Defined.--In this section, the 
     term `Consumer Price Index' means the Consumer Price Index 
     for All Urban Consumers published by the Bureau of Labor 
     Statistics of the Department of Labor.''.
       (b) Clerical Amendment.--The table of sections at the 
     beginning of chapter 19 of such title is amended by inserting 
     after the item relating to section 1980A the following new 
     item:

``1980B. Periodic review of automatic maximum coverage.''.

  The bill (S. 1299), as amended, was ordered to be engrossed for a 
third reading, was read the third time, and passed.

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