S. 649, the Guard and Reserve GI Bill Parity Act of 2026, would amend federal veterans' education benefits law to provide National Guard and Reserve members with parity to active-duty GI Bill benefits. The CBO cost estimate analyzes the ten-year budgetary impact of extending these education assistance programs to qualifying reservists. The bill was ordered reported by the Senate Committee on Veterans' Affairs on March 18, 2026, with an estimated cost published by the CBO on April 1, 2026.

Compliance teams at affected agencies and educational institutions should review the CBO cost estimate to understand the program's projected scope and enrollment. The bill would require coordination between the VA, Department of Defense, and approved educational institutions to administer expanded benefits. If enacted, participating institutions would need to update their systems to process reservist enrollment under the extended GI Bill provisions.