Washington, DC – Today, U.S. Representatives Young Kim (CA-40) and Joyce Beatty (OH-03) announced the relaunch of the Congressional Financial Literacy and Wealth Creation Caucus for the 118th Congress. The Congresswomen will serve as co-chairs of the Caucus, which is a bipartisan group of legislators committed to empowering Americans with the tools needed to build wealth and achieve financial stability.
April marks Financial Literacy Month, a time to raise awareness of the importance of financial literacy and educate Americans on the need to track their personal finances.
“Whether it’s creating a budget, expanding savings, investing, or preparing for retirement, financial literacy allows individuals to take control of their personal finances and avoid debt, fraud, or other financial concerns. The earlier people learn these tools, the better off they will be,” said Rep. Kim. “I’m proud to join Rep. Joyce Beatty to establish the bipartisan Financial Literacy and Wealth Creation Caucus to raise awareness of the importance of financial literacy and find ways to promote better financial management across communities. I will keep working to get us back on track and expand opportunities for all Americans to achieve their dream.”
“It is critical that American households be equipped with the financial literacy skills required to make informed financial decisions — from avoiding predatory financial products and services to adequately saving for retirement,” Rep. Beatty said. “We have revised the mandate of the Caucus to emphasize that financial literacy is a tool not only for economic stability, but also for wealth-building and lasting financial prosperity for generations to come.”
Beatty continued, “I look forward to working with Congresswoman Kim, a fellow Member of the House Financial Services Committee, to ensure that more Americans, at every stage of their lives, can better manage their finances and build a stronger future for their families.”
The bipartisan Caucus’ goal is to improve the financial literacy and capability of all Americans. In addition, the Caucus reviews, discusses and recommends financial literacy policies, legislation, programs and related matters at all levels of government, as well as collaborates with the private sector, nonprofits, community-based organizations and faith-based groups.
Congressional Financial Literacy and Wealth Creation members include Representatives André Carson (IN-07), Byron Donalds (FL-19), Sylvia Garcia (TX-29), Stephen Lynch (MA-08), Wiley Nickel (NC-13), Ralph Norman (SC-05), David Scott (GA-13), Bryan Steil (WI-01), Shri Thanedar (MI-13), and Nikema Williams (GA-05).
