IV 

118TH CONGRESS 

2D SESSION H. RES. 1154 

Supporting the goals and ideals of ‘‘Financial Literacy Month’’. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 17, 2024 

Mrs. BEATTY (for herself, Mrs. KIM of California, Mr. BARR, Mr. CARSON, 

Mr. CASTEN, Mr. CLEAVER, Mr. DONALDS, Mr. FITZPATRICK, Ms. GARCIA of Texas, Mr. GOTTHEIMER, Mr. HILL, Mr. HORSFORD, Mr. LYNCH, 

Mr. MCGOVERN, Mr. MEEKS, Mr. NICKEL, Mr. DAVID SCOTT of Georgia, 

Mr. VALADAO, Mrs. WATSON COLEMAN, and Ms. WILLIAMS of Georgia) 

submitted the following resolution; which was referred to the Committee 

on Oversight and Accountability 

RESOLUTION 

Supporting the goals and ideals of ‘‘Financial Literacy 

Month’’. 

Whereas, according to the Federal Deposit Insurance Corporation, at least 18.6 percent of households in the 

United States, or nearly 24,600,000 households, are 

unbanked or underbanked and therefore have not had an 

opportunity to access savings, lending, and other basic financial services; 

Whereas the Report on the Economic Well-Being of U.S. 

Households in 2022 by the Board of Governors of the 

Federal Reserve found that 37 percent of adults could 


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•HRES 1154 IH 

not cover a $400 emergency expense without borrowing 

or selling something of value; 

Whereas the Consumer Financial Protection Bureau’s Making Ends Meet in 2023 survey found that 37.8 percent 

of households had difficulty paying their bills in the previous year; 

Whereas the Financial Health Pulse 2023 U.S. Trends Report published by the Financial Health Network found 

that 17 percent of Americans are financially vulnerable, 

with Black, Hispanic, and younger Americans disproportionately represented; 

Whereas, according to the Quarterly Report on Household on 

Credit Debt for the fourth quarter of 2023 released by 

the Federal Reserve Bank of New York’s Center for 

Microeconomic Data, outstanding household debt in the 

United States was $17,500,000,000,000; 

Whereas 49 percent of cardholders in the United States carry 

credit card debt from month to month, with emergency 

expenses as the leading cause of that debt, according to 

a November 2023 Bankrate survey; 

Whereas a survey conducted by the National Endowment for 

Financial Education found that 83 percent of adults in 

the United States with outstanding student loan debt will 

need to make significant budgetary changes in order to 

make their payments; 

Whereas, according to the 2024 Survey of the States: Economic and Personal Finance Education in Our Nation’s 

Schools, a biennial report by the Council for Economic 

Education— 


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(1) only 28 States require students to take an economics course as a high school graduation requirement; 

and 

(2) only 35 States require students to take a personal finance course as a high school graduation requirement; 

Whereas a survey conducted by the Finra Investor Education 

Foundation found that a combined math and financial 

knowledge is tied to better financial outcomes; 

Whereas expanding access to the safe, mainstream financial 

system will provide individuals with less expensive and 

more secure options for managing finances and building 

wealth; 

Whereas quality personal financial education is essential to 

ensure that individuals are prepared— 

(1) to manage money, credit, and debt; and 

(2) to become responsible workers, heads of household, investors, entrepreneurs, business leaders, and citizens; 

Whereas increased financial literacy empowers individuals to 

make wise financial decisions and reduces the confusion 

caused by an increasingly complex economy; 

Whereas a greater understanding of, and familiarity with, financial markets and institutions will lead to increased 

economic activity and growth; and 

Whereas, in 2003, Congress— 

(1) determined that coordinating Federal financial 

literacy efforts and formulating a national strategy is important; and 

(2) in light of that determination, passed the Financial Literacy and Education Improvement Act (20 U.S.C. 


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9701 et seq.), establishing the Financial Literacy and 

Education Commission: Now, therefore, be it 

1 Resolved, That the House of Representatives— 

2 (1) supports the goals and ideals of ‘‘Financial 

3 Literacy Month’’ to raise public awareness about— 

4 (A) the importance of personal financial 

5 education in the United States; and 

6 (B) the serious consequences that may re7 sult from a lack of understanding about per8 sonal finances; and 

9 (2) calls on the Federal Government, States, lo10 calities, schools, nonprofit organizations, businesses, 

11 and the people of the United States to observe ‘‘Fi12 nancial Literacy Month’’ with appropriate programs 

13 and activities. 

Æ 


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