As COVID-19 loosens its grip on society, returning to pre-pandemic life will present a new set of challenges for military veterans.
The pandemic left its mark on everyone. For veterans, it had a lasting impact that furthers their need for support.
Veterans were hit hard by COVID-19, which intensified several of their most pressing issues. Here’s what we know:
Transitioning out of the pandemic will be a challenge. Veterans who were already experiencing obstacles securing post-service jobs, continuing their education or managing financial difficulties, now have to contend with a return to normal in a post-pandemic world. Relief efforts and support, by necessity, will need to take into account issues that are unique to veterans.
We’re already seeing some progress along these lines. The $2 trillion stimulus bill that President Biden signed into law March 11 included $17 billion for programs for veterans.
Here’s what’s being made available to veterans in the American Rescue Plan:
The provisions of the American Rescue Plan are not universal. Eligibility requirements and restrictions may hinder veterans’ ability to fully enjoy its benefits.
Here are the eligibility requirements for veterans to participate in its rapid retraining program:
The program will also only run until $386 million has been spent or 17,250 veterans have been trained. It won’t cover any courses that are designed to lead to a college degree, only those that lead to a job. Therefore, courses must be approved under the VET TEC program or be on the list of high-demand occupations outlined by the Bureau of Labor Statistics.
Another provision of the American Rescue Plan calls for the allocation of $500 million to help states upgrade State Veterans Homes and $250 million in one-time emergency grants to support these facilities and ensure they can provide care to veterans during the pandemic.
Funding will not be consistent across every state home. The one-time emergency payments will be distributed to state homes based on their current number of veteran residents. State Veterans Homes can expect about $14,285 per veteran.
Lower-income families may be eligible for childcare assistance. The American Rescue Plan includes a new tax program aimed at reducing child poverty and income inequality.
This applies to those who have lost their jobs or were forced to reduce their workload to address childcare issues stemming from the pandemic. Unemployed veterans can greatly benefit from this section of the plan. Here’s what we know about the childcare assistance program:
Individuals who make less than $75,000 a year and jointly filed married couples who make less than $150,000 a year can qualify for the child tax credit.
Under the same requirements, veterans can expect to receive an additional direct stimulus payment of $1,400. Eligible recipients will receive the full amount per person, for themselves and their dependents.
324 S. Service Road
Suite 107
Melville, NY 11747
contact@americanvetsgroup.com
(646) 933-8387
Please Click Here
to see our Form CRS for more information.
Please Click Here to check the background of this firm on FINRA's BrokerCheck.
Please Click Here to view our RBC Order Handling Disclosure.
Member FINRA & SIPC | Registered with MSRB
American Veterans Group, PBC © 2024. All Rights Reserved.
Privacy Policy &
Terms of Use.