Floor Statement on the Young Adults Financial Literacy Act

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REMARKS BY
THE HONORABLE ANDRÉ CARSON
FLOOR REMARKS ON H.R. 3147, THE YOUNG ADULTS FINANCIAL LITERACY ACT

THURSDAY, JULY 16, 2009

Madam Speaker, I come to the floor to discuss the Young Adults Financial Literacy Act, which I introduced last week to help community organizations provide better financial education to young adults.

As our recession drags on, it is clear that many of the problems we now face could have been avoided by better educating people about the financial system.

Today, across our country, thousands of young people are getting their first credit card, taking out loans for college and renting their first apartments.

Yet statistics show that many of these young adults never learned basic financial skills like budgeting, saving and maintaining manageable debt.

My bill will help young people receive the financial education they need—before they take these critical first steps.

It will provide grants for the development and implementation of effective education programs—empowering a young generation of consumers at this critical economic time.

So, I encourage my House colleagues cosponsor the Young Adults Financial Literacy Act.

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