Dreier Introduces Financial Literacy Resolution
Bipartisan Resolution Calls for "Financial Literacy for Youth Month"
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Dreier Addresses Jump$tart Coalition
March 6, 2003
WASHINGTON, DC - Congressman David Dreier (R-San Dimas), Chairman of the House Rules Committee, was joined yesterday by a bipartisan group of lawmakers in introducing a resolution that calls for designating a month as Financial Literacy for Youth Month. Other original co-sponsors of H.Res. 127 are Representatives Judy Biggert (R-IL), Harold Ford, Jr. (D-TN), Mike Oxley (R-OH), Tom Petri (R-WI), Earl Pomeroy (D-ND), and Mike Ross (D-AZ).
"In the fast paced and increasingly complex world in which we live, an understanding of personal finance issues, from basic spending decisions to investing and saving for retirement, has become critical," Dreier said. "Unfortunately, recent studies indicate that most American high school students lack even rudimentary financial literacy skills. If we can designate a month every year to highlight these issues with students and teaching them to make sound decisions now, they will only benefit in the long run."
Dreier expressed his hope that April, a month that typically focuses Americans on their finances due to paying their income taxes, will become the designated month. He also applauded the efforts of the Jump$tart Coalition for Personal Financial Literacy for bringing awareness to the issue and prompting states and various organizations to make similar designations last year. For instance, in April 2002:
- Governors in several states, including Iowa, Idaho, New Hampshire, Utah, and Wisconsin, signed proclamations furthering the goal of teaching financial basics;
- Credit Unions observed the first-ever National Credit Union Youth Week;
- Junior achievement paired up with The Goldman Sachs Foundation to create the Internet-driven instructional strategies in personal finance; and,
- The Nasdaq Stock Market Educational Foundation and the National Council on Economic Education announced winners of the third annual national teaching awards.
Dreier pointed to fostering economic growth as another reason to make financial literacy a priority. "Enhancing our children's foundation in financial literacy will provide them with the tools to ensure financial independence and prosperity, thus strengthening our economy."
