April 12, 2019

Young and Braun Cosponsor Resolution Declaring April Financial Literacy Month

WASHINGTON – U.S. Senators Todd Young (Ind.) and Mike Braun (R-Ind.) cosponsored a resolution this week designating April as Financial Literacy Month. The resolution aims to highlight the importance of learning and maintaining healthy financial habits.

According to a 2017 report by the Federal Deposit Insurance Corporation (FDIC), approximately 25 percent of households in the United States are unbanked or underbanked and have limited or no access to savings, lending, and other basic financial services. Financial literacy empowers individuals to make wise financial decisions and reduces the difficulty of making decisions in an increasingly complex economy.

“Maintaining and establishing healthy and effective financial habits is an issue that affects countless people not only in Indiana but across the country. As I travel across the state, Hoosiers consistently raise financial security as an area of concern,” said Senator Young. “By designating April as Financial Literacy Month, I hope to highlight the necessary skills and available tools to make informed and effective decisions with financial resources.”

“As a business owner, I know financial literacy is essential to empowering Americans to make the best decisions for themselves and their families,” said Senator Braun. “It’s essential that Americans have the financial education needed to confidently maintain a household budget, manage credit cards, or start their own business.”

This resolution was introduced by Tim Scott (R-S.C.), Jack Reed (D-R.I.), and Doug Jones (D-Ala.), co-chairs of the financial literacy caucus, and cosponsored by Senators Young and Braun, as well as Senators John Barrasso (R-Wyo.), Cory Booker (D-N.J.), John Boozman (R-Ark.), Maria Cantwell (D-Wash.), Shelley Moore Capito (R-W.Va.), Ben Cardin (D-Md.), Tom Carper (D-Del.), Bill Cassidy (R-La.), Chris Coons (D-Del.), Kevin Cramer (R-N.D.), Mike Crapo (R-Idaho), Dick Durbin (D-Ill.), Mike Enzi (R-Wyo.), Joni Ernst (R-Iowa), Dianne Feinstein (D-Calif.), Maggie Hassan (D-N.H.), Cindy Hyde-Smith (R-Miss.), Joe Manchin (D-W.Va.), Bob Menendez (D-N.J.), Patty Murray (D-Wash.), Gary Peters (D-Mich.), David Perdue (R-Ga.), Pat Roberts (R-Kan.), Jacky Rosen (D-Nev.), Jon Tester (D-Mont.), Thom Tillis (R-N.C.), Sheldon Whitehouse (D-R.I.), and Roger Wicker (R-Miss.).