Bills · HR 8056
IN COMMITTEE· 119TH CONGRESS
House BillHR 8056Armed Forces and National Security
Military Financial Literacy Act of 2026
INTRO MAR 24· LAST ACTION MAR 24
READING
3MIN
COSPONSORS
3
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it addresses critical financial and housing challenges often faced by military members and their families. Service members frequently move due to their duties, making housing decisions complex, and they can be targets for predatory lending practices. This bill aims to provide them with the knowledge and tools to navigate these situations successfully, potentially reducing financial stress and improving their long-term economic well-being.
If this bill becomes law, service members would have a dedicated resource for individualized financial and housing guidance, which could lead to fewer financial mistakes, better use of benefits like VA home loans, and more stable housing situations. If it doesn't pass, service members would continue to rely on existing, potentially less personalized, resources, which may not adequately address their specific and complex financial and housing needs.
KEY PROVISIONS
4AI-extractedPROVISION 01
The bill mandates the Department of Defense to establish a program providing one-on-one, tailored financial and housing counseling to service members within one year.
This ensures that a dedicated, personalized support system for financial and housing issues will be available to military personnel.
PROVISION 02
The counseling program will cover a wide range of topics, including credit management, budgeting, anti-predatory lending, Permanent Change of Station (PCS) rental planning, and VA home loan benefits.
This comprehensive scope aims to equip service members with crucial knowledge for various financial and housing situations they may encounter.
PROVISION 03
The Secretary of Defense is directed to partner with specific types of expert counseling service organizations that are HUD-approved and recognized as veteran service organizations.
This provision aims to ensure that the counseling provided is of high quality, specialized, and delivered by organizations with relevant expertise and credentials.
PROVISION 04
The Secretary of Defense must report to Congress two years after the services are established, detailing program implementation, participation rates, and indicators of financial stress among participants.
This ensures accountability and allows for evaluation of the program's effectiveness and impact on service members' financial and housing stability.
SPONSORSHIP
1 + 3
D· Michigan
YRS IN OFFICE
1
BILLS LED
19
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 3 IND 0
ACTION TIMELINE
2 EVENTSMAR 24
Introduced in House
MAR 24
Referred to the House Committee on Armed Services.
BILL INFO
TypeHouse Bill
NumberHR 8056
Congress119th
StatusIn Committee
IntroducedMar 24, 2026
Last actionMar 24, 2026
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IN COMMITTEE· 119TH CONGRESS · ARMED SERVICES COMMITTEE · INTRODUCED MAR 24, 2026
House BillHR 8056Armed Forces and National Security
Military Financial Literacy Act of 2026
INTRODUCED MAR 24, 2026· LAST ACTION MAR 24, 2026
PASSAGE CHANCES
—%
READING
3 min
COSPONSORS
3
COMPLEXITY
Moderate
