IV 

110TH CONGRESS 

2D SESSION H. RES. 993 

Expressing support for the second annual America Saves Week 2008 from 

February 24, 2008 through March 2, 2008. 

IN THE HOUSE OF REPRESENTATIVES 

FEBRUARY 19, 2008 

Mrs. JONES of Ohio (for herself and Mr. TIBERI) submitted the following 

resolution; which was referred to the Committee on Financial Services 

RESOLUTION 

Expressing support for the second annual America Saves 

Week 2008 from February 24, 2008 through March 2, 2008. 

Whereas America Saves is a 7 year old social marketing campaign in which over 1,000 local, State, and national organizations have motivated more than 100,000 people to 

enroll as ‘‘American Savers’’ by making a commitment to 

save for a goal of their choice and to develop a plan to 

achieve this goal; 

Whereas, with the national savings rate consistently hovering 

around 0 for the past 6 years, America Saves is the call 

to action that we must not spend all, but save some, of 

our incomes; 

Whereas the America Savings Education Council (‘‘ASEC’’) 

a national coalition of public and private-sector instituVerDate Aug 31 2005 21:57 Feb 19, 2008 Jkt 069200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6300 E:\BILLS\HR993.IH HR993

sroberts on PROD1PC70 with BILLS
2 

•HRES 993 IH 

tions founded in 1995 is committed to making saving and 

retirement planning a priority for all Americans; 

Whereas the ASEC actively promotes the savings message 

through its national award winning Choose-to-Save Campaign 

Whereas, launched in 2001 with one city, Cleveland, Ohio, 

America Saves has now 53 local, State, and national 

campaigns, including Philadelphia Saves, Utah Saves, 

San Diego Saves, New York State Saves, Texas Saves, 

Kansas City Saves, Milwaukee Saves, Miami Saves, Tennessee Saves, Silicon Valley—South Bay Saves, Military 

Saves, Youth Saves, Black America Saves, Hispanic 

Saves, and America Saves through Homeownership; 

Whereas local activities are being organized in many cities 

and localities around the country that encourage individuals to take action such as opening a savings account for 

emergencies, participating in work place retirement programs, or setting a goal such as homeownership and establishing a savings account dedicated for that purpose; 

Whereas America Saves has over 500 financial institutions, 

both banks and credit unions, providing no-fee or low-fee, 

low-opening-balance savings accounts that allow small 

savers to achieve success; 

Whereas, as an example, America Saves has to date enrolled 

8,700 American Savers in the area of Cleveland, Ohio, 

alone, over 10,000 of them have saved or reduced debt 

by an estimated $8,300,000, which is on average 

$600,000 per month; 

Whereas the lack of national savings is particularly egregious 

as numerous homeowners face mortgage foreclosures in 

the wake of the ‘‘subprime crisis’’ because most AmeriVerDate Aug 31 2005 21:57 Feb 19, 2008 Jkt 069200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6300 E:\BILLS\HR993.IH HR993

sroberts on PROD1PC70 with BILLS
3 

•HRES 993 IH 

cans do not have 1 month of savings or liquid assets, let 

alone the recommended 6 months of savings or liquid assets if they experience financial troubles; 

Whereas this second America Saves Week, February 24, 

2008 to March 2, 2008, is being introduced as an annual 

event to focus all of us on the need and opportunities for 

financial action; and 

Whereas the issue of making saving automatic and habitual 

is a primary focus for this second America Saves Week: 

Now, therefore, be it 

1 Resolved, That the House of Representatives— 

2 (1) recognizes the importance of increasing the 

3 savings rate and reducing consumer indebtedness in 

4 the United States through effective social marketing 

5 campaigns; 

6 (2) supports the goals and ideals of America 

7 Saves Week; and 

8 (3) encourages the President to issue a procla9 mation calling upon the people of the United States 

10 to participate in America Saves Week with appro11 priate activities. 

Æ 


sroberts on PROD1PC70 with BILLS