- Thursday, June 6th, 2024
Senator Scott Highlights the Importance of Financial Literacy at Jump$tart’s Capitol Hill Event
WASHINGTON — U.S. Senator Tim Scott (R-S.C.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, spoke at the Jump$tart Coalition and National Endowment for Financial Education’s Financial Literacy Day on Capitol Hill. During his speech, he highlighted the importance of financial education and shared how he has worked to expand financial literacy around the country. Senator Scott is the co-chair of the Financial Literacy Caucus.
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| Watch Senator Scott’s Remarks here! |
“In South Carolina, it’s now a prerequisite that to graduate from high school you have to have a financial literacy class. I will say without any question, I wish – as a kid growing up in poverty, in a single parent household – that I had those lessons before I entered my twenties,” said Senator Scott. “What we sometimes forget to tell kids is all things are possible, especially when you work, especially when you save while you’re working, and especially when you save on a disciplined pattern. That is such an important part of the equation.”
“Maybe, by teaching financial literacy and financial education, we find ourselves helping to seed the soil that then germinates and produces a new community of folks who understand philanthropy and investment. Because they themselves become the investors who then become the philanthropists. I believe that the greatest future we have as a nation will be in the hands of young people who benefit from your investment in their lives,” he concluded.
BACKGROUND:
As the top Republican on the Senate Banking Committee, Senator Scott has prioritized financial literacy and financial education to ensure all Americans have the tools to climb the ladder of success.
Senator Scott’s comprehensive housing proposal, the ROAD to Housing Act, increases access to high quality housing counseling and financial literacy programs for families looking to buy a home or struggling to stay in one. In addition, the Senator’s capital markets framework, the Empowering Main Street in America Act, will enhance financial education programs to increase market understanding and participation, which will ultimately help more Americans achieve financial security.
Senator Scott joined Senator Jack Reed (D-R.I.) in leading a resolution to declare April 2024 as Financial Literacy Month.