House Approves Dreier Financial Literacy Resolution

April 8, 2003

WASHINGTON, DC - The House of Representatives last night approved a resolution offered by Congressman David Dreier (R-San Dimas), Chairman of the House Rules Committee, that applauds the efforts of several financial organizations to recognize April as "Financial Literacy for Youth Month." H.Res. 127 was approved with broad bipartisan support. A similar resolution recently passed the U.S. Senate.

"In recent years we have seen a dangerous trend - an increase in personal bankruptcies and a decrease in personal savings," Dreier said. "If these trends continue, not only will individuals face financial hardship, our economy will suffer as well. We need to start giving our children a sound financial education now, so they will able to make good decisions in the future. I applaud the efforts of financial groups to make financial literacy for youth a top priority."

Dreier noted that several schools in his district such as Cucamonga Middle School, Glendora High School, Monrovia High School, Rancho Cucamonga High School, and San Dimas High School have participated in programs sponsored by the National Council on Economic Education (NCEE) which seek to improve students' financial literacy skills through lesson plans and real world case studies. These programs include "Financial Fitness for Life", a comprehensive personal finance curriculum that assists students from kindergarten to grade 12 to make better decisions on earning income and spending, borrowing, saving and investing. Another popular course, the "Credit Wise Teenager", is based on a module that illustrates basic economic principles through stories that are relevant to teens and their experiences.

The Jump$tart Coalition for Personal Financial Literacy, an organization committed to financial education, thanked Congressman Dreier for sponsoring the resolution. Executive Director Dara Duguay said, "The Jump$tart Coalition applauds Congressman Dreier for his leadership and dedication in seeking to improve the financial literacy of our nation's youth. House Resolution 127 builds on the record that throughout his congressional career, Chairman Dreier has fought passionately to improve the basic financial competency of all Americans."

"The key to improving financial literacy is awareness," Dreier said. "Passage of this resolution is one more step in making all Americans aware of how important their financial smarts are to their overall success."