Today, Secretary of Defense Lloyd J. Austin III issued a memorandum announcing Department-wide efforts to strengthen economic security in the force.
The Secretary recognizes service members and families are experiencing economic challenges related to the COVID-19 pandemic and to increasingly competitive housing markets. With the understanding that a military family's economic security is critical to mission readiness, the Secretary has directed the Military Department and Service leadership to take the following actions:
- Provide immediate relief
- Increase stability for Service members and families
- Expand financial readiness resources
The Military Departments are directed to provide a status update on the actions under their purview to the Deputy Secretary of Defense within 90 days of this memorandum.
The memorandum on Strengthening Economic Security in the Force can be found here.
An Economic Security toolkit has been provided to assist military leaders with addressing economic security issues among service members and their families. The Economic Security toolkit can be found here.