MURPHYSBORO, Ill., March 31, 2025 (GLOBE NEWSWIRE) — Last week Congressman Mike Bost chaired the House Committee on Veterans’ Affairs on hearings raised by the subcommittees on Technology Modernization, Disability Assistance, and Memorial Affairs, Oversight and Investigations, with an abrupt ‘testimony disclosure form’ and intervention brief, inclusive of a generative ‘AI infomercial’ presented by Veterans Recovery Network, merely asking for Congress to re-affirm that Uncle Sam’s credit marker ‘is still good’ as to the PACT Act’s unconditional guarantee under the United States Code.
CLJA 400K CLUB CLAIM ACKNOWLEDGMENT
In January, the Navy JAG Claims Unit acknowledged a unique group of CLJA claimants under a single claim filed by Veterans Recovery Network pursuant to Section 804 of the PACT Act of 2022 (Elective Option), relative to over 400,000 military veterans, who what the Internal Revenue Service currently knows as the VRN Member Club CLJA Settlement Trust, classifying each veteran member as a beneficiary.
UNCLE SAM’S PACT ACT GUARANTEE
In 2023, Department of Navy, then supported by the U.S. Department of Justice to mitigate claim processing, affirmed that the CLJA claim settlement option (EO) assures anyone with a valid claim filed before the August ‘24 deadline with disease or cancer to which the ATSDR has linked possible evidence of causation, including multiple myeloma, Parkinson’s disease, kidney disease, renal disease, systemic sclerosis/systemic scleroderma, would receive a settlement payment of $400,000, $250,000, or $100,000, depending on whether the claimant was exposed to Camp Lejeune water for over five years, between one and five years or between 30 and 364 days, respectively.
WHAT HAPPENED AT CONGRESS THIS MONTH
March’s sessions at the Subcommittee on Investigations and Oversights and Subcomittee on Disability Assistance and Memorial Affairs held legislative sessions (https://veterans.house.gov/issues) that focused on various legislation such as the ACES Act, Ensuring Veterans’ Final Resting Place Act, H.R. 1039, Clear Communication for Veterans Claims Act, Prioritizing Veterans’ Survivors Act, Simplifying Forms for Veterans Claims Act, Sergeant First Class Heath Robinson Honoring Our Promise to Address Comprehensive Toxics Act, Dennis and Lois Krisfalusy Act, Review Every Veterans Claim Act of 2025, Veteran Appeals Transparency Act, Improving VA Training for Military Sexual Trauma Claims Act, Veterans Claims Education Act, Survivors Benefits Delivery Improvement Act of 2025, and Board of Veterans Appeals’ Attorney Retention and Backlog Reduction Act.
UNCLE SAM’S CREDIT OVERVIEW
According to Trading Economics, presently the U.S. government has an ‘AA’ credit rating, which is the same rating held by Ireland, the U.K., Slovenia, and Hong Kong, yet lower than the ‘AAA’ credit rating held by Australia, Canada, and Singapore, according to Moody’s, S&P, and DBRS. Banks and credit unions that support military veterans express their ability to entertain the deliverables or presumable credits in lieu of compensation or cash award previously guaranteed under a judicial or legislative statute, as the acts of Congress discussed this month at the VA House Committee before U.S. Representative Chairman Bost, and the special subcommittee House members (U.S. Rep. Jen Kiggans R-VA-02; U.S. Rep. Amata Coleman Radewagen R-AS; U.S. Rep. Juan Ciscomani R-AZ-06; U.S. Rep. Keith Self R-TX-03; U.S. Rep. Delia Ramirez D-IL-03; U.S. Rep. Tim Kennedy D-NY-26; U.S. Rep. Herb Conaway D-NJ-03; U.S. Rep. Morgan Luttrell R-TX-08; U.S. Rep. Jack Bergman R-MI-01; U.S. Rep. Nancy Mace R-SC-01; U.S. Rep. Morgan McGarvey D-KY-03; U.S. Rep. Maxine Dexter D-OR-03; U.S. Rep. Kelly Morrison D-MN-03).
IS UNCLE SAM’S MARKER STILL GOOD ON VETS’ SURETY
The veteran members at Veterans Recovery Network, similar to the traditional bankers and lenders who serve these Veteran club trust beneficiaries throughout the U.S., are taking a closer look into the viable elements for qualifying a secured borrower or unsecured credit approval submitted by CLJA veterans that have already selected to receive the Government’s ‘elective option’ at the time they filed their claim last year. Collectively, the EO veteran-class action claimants have a presumed settlement trust valuation of over $40 billion in ‘EO’ cash awards guaranteed by Uncle Sam, before assessing retroactive or future VA benefits related to the PACT Act (per 38 U.S. Code), one of the several issues heard this month at the House Committee on Veterans’ Affairs.
RECYCLING OLD WAYS TO SOLVE NEW ISSUES
VRN’s senior claim advocate, Doug Simmons, comments, ”A hundred years ago my grandfather as a solider who returned from the war and received a credit letter from Uncle Sam that allowed him to buy a house, car, and things to start and maintain a family. That’s how I got to this point today. The banks gave him credit on Uncle Sam’s marker. Despite the substantial technology upgrades, what’s really changed since then?” The intervention testimony and supporting Gen AI pitch video (produced by AI Legal Mate, AI-119 Vulcan-SOF Ghostcrew) sends a very generic message that reminds us that the American currency is stamped ‘in God we trust’, ultimately intended to present a bond or guarantee on all monetary or credit debts carried by particular members of the U.S. Armed Forces.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/404c95cd-638b-4457-814e-a291a5099872
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/759b4ca9-31fe-48dd-a09a-83fa128eff83
