Press Releases

WASHINGTON D.C. —  Today, the House unanimously passed H.Res.327, a bipartisan resolution introduced by Congressman French Hill (AR-02) and Congressman Bill Foster (D-IL) encouraging greater public-private sector collaboration to promote financial literacy for students and young adults. 

“As a father, a former community banker, and an investment adviser, I believe that we should make every effort at home and in schools to encourage our kids to develop responsible, financial habits,” said Congressman Hill. “Recent studies have shown that children as early as seven years old can begin developing financial behaviors. At this age, children don’t just learn information–they acquire it. Introducing primary school students to financial literacy and personal finance classes will help create a deeper understanding of earning, saving, and spending money. Acquiring these skills at a younger age allows students to better navigate complicated financial decisions as adults and puts them on a path towards lifelong fiscal prosperity.”

“In our increasingly complex financial marketplace, young people often find themselves lacking the knowledge to make tough financial decisions that can have profound effects on their futures,” said Congressman Foster. “Studies have shown that promoting financial literacy at an early age helps equip young people to make sound financial decisions that will set themselves up for success.”

Background:

Text of the resolution is available HERE. 

On April 8, 2019, the Arkansas Democrat-Gazette published an op-ed by senior vice president and regional executive of the Little Rock Branch of the Federal Reserve Bank of St. Louis, Robert Hopkins, highlighting the importance of introducing financial literacy classes to primary school students. Hopkins argues, "[w]aiting until students are in high school to teach personal finance and economics can mean missing valuable opportunities to help them learn and shape their habits. And it leaves children, during very impressionable years, more apt to construct their understanding of the economy and personal finance from what they observe around them." The full op-ed can be found HERE. 

In his remarks on the House floor in support of his resolution, Congressman Hill highlighted the good work of Economics Arkansas, an educational nonprofit committed to promoting economic literacy among PreK-12th grade students in Arkansas. This organization supports the training of primary school teachers to incorporate principles of economics and personal finance into the classroom curriculum. More information on Economics Arkansas can be found HERE.