Strengthening America's Armed Forces and Military Family Bill of Rights Act

Strengthening America's Armed Forces and Military Family Bill of Rights Act - Increases Army and Marine Corps end strengths for FY 2005 and thereafter.

Makes members of the Selected Reserve and the Individual Ready Reserve eligible for either the Prime or Standard option of the TRICARE Program (a Department of Defense managed health care program), allowing for either self-coverage or self-and-family coverage.

Directs the Secretary of the military department concerned to pay the applicable premium to continue in force any qualified health plan coverage for a reserve member (and his or her dependents) while the member is serving on active duty pursuant to a call or order issued during a war or national emergency declared by the President or Congress. Requires the continuation of COBRA coverage during such period.

National Reservist Enterprise Transition and Sustainability Act of 2005 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to establish a program to provide business planning assistance to small businesses owned and operated by members of the National Guard and Reserve. Authorizes SBA: (1) loans to new veteran entrepreneurs; and (2) grant assistance for military reservists' small businesses.

Amends the Internal Revenue Code to provide a reserve component employment credit equal to the sum of the employment credit with respect to all qualified employees of the taxpayer and the self-employment credit of a qualified self-employed taxpayer. Disallows the credit for failure to comply with reserve member employment or reemployment rights, or when a reserve member is called or ordered to active duty for training.

Authorizes a taxpayer to designate overpayments of income tax for payment into the the American Military Family Relief Fund (established herein), to be used to make distributions to individuals and family of members who serve or have served in the Armed Forces for needs not met by other laws or programs.

Authorizes penalty-free withdrawals from retirement plans for individuals called or ordered to certain active duty.

Increases the military death gratuity from $12,000 to $250,000. Continues for 365 (currently 180) days the basic allowance for housing for dependents of members who die while on active duty.

Directs the Secretary of Veterans Affairs to employ at least one psychiatrist and a complimentary clinical team at each Department of Veterans Affairs medical center to provide post-traumatic stress disorder treatment for veterans of service in Afghanistan and Iraq and the War on Terrorism.