Young Introduces Legislation to Help Unemployed Veterans

Statement

Rep. Todd Young (R-IN9) introduced H.R. 4279, the Veterans Self Relief Act, on Wednesday, a bill that would allow recently discharged veterans who are unemployed to draw from their individual retirement accounts without penalty.

"As more and more of our young men and women return from overseas to a shaky economy, they are finding it hard to make ends meet," said Young. "Because of the sacrifices they have made in defense of this country--sacrifices like putting off a career or delaying educational opportunities--they might find it a little tougher to make ends meet as they transition to civilian life. This bill would recognize those sacrifices by allowing them to withdraw funds from their individual retirement account while they are searching for a job."

Young noted that nearly all of our troops, no matter their age, have some money in a pension fund through the federal government. The idea for the legislation came from a meeting Young had with a recently discharged veteran from Dubois County. It was introduced with Reps. Bob Latta (R-OH) and Randy Hultgren (R-IL) as co-sponsors.

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