VMFP introduced the National Veteran and Military Family Savings Bond Program to supplement the necessary traditional funding for the needs of veterans and their families. Administered by the Department of the Treasury through the Treasury Direct program, the Senate Finance Committee will provide oversight of the program, VMFP recommends. The bonds will be marketed to private investors and individuals, will yield an interest rate not less than 5%, and will be offered in denominations from $50 to $10,000.
“Although less than 10 percent of Americans are touched directly by a loved one serving in the wars in Iraq and Afghanistan, the responsibility for returning veterans’ care needs to be shared by all Americans,” said Matt Cary, president of VMFP. “Americans need to recognize that when we send troops to war to protect our homeland, they return as veterans. And as we fund the war, we need to fund their care when they come home. In purchasing these bonds, citizens can respond to that unspoken commitment and assume a degree of personal responsibility for returning veterans and their families who have given so much, while at the same time earning tax-free income at the bond’s maturity.”
“This is why I joined VMFP in the first place!” said Maura Satchell, a national director of the organization whose two sons have served multiple deployments in Iraq (one currently serving). “From the start I knew our organization was different in that part of its mission is to create the political will – and the means – to support our veterans and military families. This policy and bond program does exactly that!”
“In creating a national policy such as this,” Cary concluded, “America can be confident that the nation’s sacred promise to its veterans and their families will be fulfilled, and in a manner that is fiscally responsible.”
VMFP’s comprehensive policy also recommends establishing strong partnerships with traditional congressionally chartered Veteran Service Organizations (VSOs) and other veteran and military family advocacy groups to educate the media and general public and to seek their involvement in implementing this comprehensive national policy for our veterans and their families.