The Senate has passed a resolution put forward by Chairman Tim Scott (R-S.C.) and Senator Jack Reed (D-R.I.) that designates April 2025 as Financial Literacy Month. Since 2004, the U.S. Senate has recognized Financial Literacy Month as an initiative aimed at promoting financial education and providing resources to help Americans of all ages develop and maintain healthy financial habits.
“Financial literacy is critical to achieving financial independence and the American Dream. Unfortunately, many Americans growing up like I did lack basic financial education, which is why I’ve made it my mission to make programs and resources on this important topic more accessible. Designating April 2025 as Financial Literacy Month builds on our efforts to ensure all Americans can access the tools necessary to secure their financial future,” said Chairman Scott.
Senator Reed also commented on the significance of financial literacy. “From managing a household budget to making major purchases to laying the foundation for a secure retirement, financial literacy is a lifelong endeavor. Unfortunately, too many Americans lack the basic financial literacy skills needed to make informed decisions. This has impacts on families, communities, and future generations. Raising awareness about the resources available to improve financial literacy is the first step on the path to a financially secure future. I’m pleased our Senate colleagues are coming together on a bipartisan basis to recognize Financial Literacy Month,” he said.
The resolution was co-sponsored by a bipartisan group of senators, including Ron Wyden (D-Ore.), Dick Durbin (D-Ill.), Susan Collins (R-Maine), Mike Crapo (R-Idaho), Maria Cantwell (D-Wash.), Sheldon Whitehouse (D-R.I.), John Barrasso (R-Wyo.), Jim Risch (R-Idaho), John Boozman (R-Ark.), Angus King (I-Maine), Shelley Moore Capito (R-W.Va.), Gary Peters (D-Mich.), Bill Cassidy (R-La.), Mike Rounds (R-S.D.), Maggie Hassan (D-N.H.), Cindy Hyde-Smith (R-Miss.), Kevin Cramer (R-N.D.), Mark Kelly (D-Ariz.), Cynthia Lummis (R-Wyo.), Tommy Tuberville (R-Ala.), Raphael Warnock (D-Ga.), Katie Britt (R-Ala.), Jim Banks (R-Ind.), Lisa Blunt Rochester (D-Del.), and Bernie Moreno (R-Ohio).
Chairman Scott, leading the Senate Banking Committee, has been prioritizing financial literacy and education as part of his legislative agenda. His previous efforts include the ROAD to Housing Act, which aimed to increase access to housing counseling and financial literacy programs, and the Empowering Main Street in America Act, focused on enhancing financial education programs for improved market participation.
