Washington, DC- (Thursday, April 19, 2012)  Yesterday, Congresswoman Johnson introduced the National Financial Literacy Act of 2012.   The bill would require that federal financial supervisory agencies establish minimum standards for community-based financial literacy programs in order to be considered a qualified community-based financial literacy program.  The bill would also allow a tax credit to small businesses for 35% of the expenses paid or incurred for providing qualified continuing financial education to their employees. 

“As we have seen in the recent economic downtown, financial literacy is essential to preserving the economic well being of individuals and families.  I am introducing this critical legislation in order promote increased understanding and awareness of the consequences of financial decision making,” stated Congresswoman Johnson.

“By increasing financial literacy, we contribute to economic stability in the U.S. and provide the needed tools for the middle class to thrive, stated Congresswoman Johnson.”

SEE THE FULL BILL HERE : H.R. 4394

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U.S. Representative Eddie Bernice Johnson is the highest-ranking Texan on the House Committee on Transportation & Infrastructure and a senior member of the Science Committee. She represents the 30th Congressional District of Texas, which, includes Downtown Dallas, Fair Park, Oak Lawn, Turtle Creek,Old East Dallas, Pleasant Grove, & South Oak Cliff; all of Balch Springs, DeSoto, Hutchins, Lancaster & Wilmer and parts of Cedar Hill, Duncanville, Ferris, Glenn Heights and Ovilla.