From 1947 to 1970, matters relating to veterans compensation and veterans generally were referred to the Committee on Finance, while matters relating to the vocational rehabilitation, education, medical care, civil relief, and civilian readjustment of veterans were referred to the Committee on Labor and Public Welfare.

This was clearly the legislative mission of the Senate Committee on Pensions which was created as one of the Senate's original standing committees in 1816 and continued until its termination in the Legislative Reorganization Act of 1946.

[1] During World War I the nature of the congressional response to veterans' needs changed towards a more diversified set of programs.

After World War II, the Finance Committee handled the Servicemen's Readjustment Act of 1944, the GI Bill of Rights, which extended to servicemen and their families, a number of benefits including unemployment assistance, education, vocational training, housing and business loan guarantees, as well as the traditional medical and pension benefits of previous times.

Many experts believe this law was one of the most important elements in the expansion of the middle class following World War II.