Supporting the goals and ideals of "Financial Literacy Month".
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Rep. Beatty, Joyce [D-OH-3]
ID: B001281
Bill's Journey to Becoming a Law
Track this bill's progress through the legislative process
Introduced
đź“Ť Current Status
Next: The bill will be reviewed by relevant committees who will debate, amend, and vote on it.
Committee Review
Floor Action
Passed Senate
House Review
Passed Congress
Presidential Action
Became Law
đź“š How does a bill become a law?
1. Introduction: A member of Congress introduces a bill in either the House or Senate.
2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.
3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.
4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.
5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.
6. Presidential Action: The President can sign the bill into law, veto it, or take no action.
7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!
Bill Summary
Another meaningless resolution from the esteemed members of Congress, because what's more pressing than declaring a month for financial literacy when the country is drowning in debt and incompetence?
**Main Purpose & Objectives:** The main purpose of this farce is to declare April as "Financial Literacy Month" and pretend that Congress cares about the financial well-being of its constituents. The objectives are twofold: (1) raise public awareness about the importance of personal finance education, and (2) call on various entities to observe this month with programs and activities. Wow, I can already feel the impact.
**Key Provisions & Changes to Existing Law:** There are no actual provisions or changes to existing law in this resolution. It's a symbolic gesture, a placebo for the financially illiterate masses. The bill cites various statistics about financial literacy (or lack thereof) and quotes from reputable sources, but it doesn't propose any concrete solutions or policy changes.
**Affected Parties & Stakeholders:** The affected parties include:
* Financially illiterate individuals who will supposedly benefit from this awareness campaign * Schools and educational institutions that might receive funding for personal finance education programs (but probably won't) * Non-profit organizations and businesses that can use this month to promote their own financial literacy initiatives (and maybe get some government grants)
**Potential Impact & Implications:** The potential impact of this resolution is zero. Zilch. Nada. It's a feel-good measure designed to make Congress look like it cares about the people, while actually doing nothing to address the root causes of financial illiteracy.
In reality, this bill is likely a result of lobbying efforts by financial institutions and non-profit organizations that want to promote their own interests under the guise of "financial literacy." It's a classic case of regulatory capture, where special interest groups use Congress to further their own agendas.
The real disease here is not financial illiteracy, but rather the systemic corruption and incompetence that pervades our government. This bill is just a symptom of a larger problem – a problem that won't be solved by declaring a month for financial literacy or any other symbolic gesture.
Related Topics
đź’° Campaign Finance Network
No campaign finance data available for Rep. Beatty, Joyce [D-OH-3]
Project 2025 Policy Matches
This bill shows semantic similarity to the following sections of the Project 2025 policy document. Higher similarity scores indicate stronger thematic connections.
Introduction
— 341 — Department of Education market prices and signals to influence educational borrowing, introducing consumer-driven accountability into higher education. Pell grants should retain their current voucher-like structure. If Congress is unwilling to reform federal student aid, then the next Adminis- tration should consider the following reforms: l Switch to fair-value accounting from FCRA accounting, and l Consolidate all federal loan programs into one new program that 1. Utilizes income-driven repayment, 2. Includes no interest rate subsidies or loan forgiveness, 3. Includes annual and aggregate limits on borrowing, and 4. Requires “skin in the game” from colleges to help hold them accountable for loan repayment. The Biden Administration has mercilessly pillaged the student loan portfolio for crass political purposes without regard to the needs of current taxpayers or future students. This must never happen again. l As detailed in Section III, the next Administration should work with Congress to spin off federal student aid into a new government corporation with professional governance and management. NEW POLICY PRIORITIES FOR 2025 AND BEYOND New Legislation That Should Be Prioritized For nearly 250 years, Congress has incorporated public and private institutions, including banks, the District of Columbia’s city government, and other organiza- tions that federal officials deem to be conducting operations in the public interest. Such charters offer a certain status to organizations, often viewed as a “seal of approval” according to one Congressional Research Service report, which can help these organizations in their fundraising and other advocacy efforts. When the nation’s largest teacher association, the National Education Associ- ation (NEA), cites its federal charter, it lends the NEA a level of significance and suggests an effectiveness that is not supported by evidence. In fact, the NEA and the nation’s other large teacher union, the American Federation of Teachers (AFT),
Introduction
— 341 — Department of Education market prices and signals to influence educational borrowing, introducing consumer-driven accountability into higher education. Pell grants should retain their current voucher-like structure. If Congress is unwilling to reform federal student aid, then the next Adminis- tration should consider the following reforms: l Switch to fair-value accounting from FCRA accounting, and l Consolidate all federal loan programs into one new program that 1. Utilizes income-driven repayment, 2. Includes no interest rate subsidies or loan forgiveness, 3. Includes annual and aggregate limits on borrowing, and 4. Requires “skin in the game” from colleges to help hold them accountable for loan repayment. The Biden Administration has mercilessly pillaged the student loan portfolio for crass political purposes without regard to the needs of current taxpayers or future students. This must never happen again. l As detailed in Section III, the next Administration should work with Congress to spin off federal student aid into a new government corporation with professional governance and management. NEW POLICY PRIORITIES FOR 2025 AND BEYOND New Legislation That Should Be Prioritized For nearly 250 years, Congress has incorporated public and private institutions, including banks, the District of Columbia’s city government, and other organiza- tions that federal officials deem to be conducting operations in the public interest. Such charters offer a certain status to organizations, often viewed as a “seal of approval” according to one Congressional Research Service report, which can help these organizations in their fundraising and other advocacy efforts. When the nation’s largest teacher association, the National Education Associ- ation (NEA), cites its federal charter, it lends the NEA a level of significance and suggests an effectiveness that is not supported by evidence. In fact, the NEA and the nation’s other large teacher union, the American Federation of Teachers (AFT), — 342 — Mandate for Leadership: The Conservative Promise use litigation and other efforts to block school choice and advocate for additional taxpayer spending in education. They also lobbied to keep schools closed during the pandemic. All of these positions run contrary to robust research evidence showing positive outcomes for students from education choice policies; there is no conclusive evidence that more taxpayer spending on schools improves student outcomes; and evidence finds that keeping schools closed to in-person learning resulted in negative emotional and academic outcomes for students. Furthermore, the union promotes radical racial and gender ideologies in schools that parents oppose according to nationally representative surveys. l Congress should rescind the National Education Association’s congressional charter and remove the false impression that federal taxpayers support the political activities of this special interest group. This move would not be unprecedented, as Congress has rescinded the federal charters of other organizations over the past century. The NEA is a demonstrably radical special interest group that overwhelmingly supports left-of-center policies and policymakers. l Members should conduct hearings to determine how much federal taxpayer money the NEA has used for radical causes favoring a single political party. Parental Rights in Education and Safeguarding Students l Federal officials should protect educators and students in jurisdictions under federal control from racial discrimination by reinforcing the Civil Rights Act of 1964 and prohibiting compelled speech. Specifically, no teacher or student in Washington, D.C., public schools, Bureau of Indian Education schools, or Department of Defense schools should be compelled to believe, profess, or adhere to any idea, but especially ideas that violate state and federal civil rights laws. By its very design, critical race theory has an “applied” dimension, as its found- ers state in their essays that define the theory. Those who subscribe to the theory believe that racism (in this case, treating individuals differently based on race) is appropriate—necessary, even—making the theory more than merely an analyti- cal tool to describe race in public and private life. The theory disrupts America’s Founding ideals of freedom and opportunity. So, when critical race theory is used as part of school activities such as mandatory affinity groups, teacher training programs in which educators are required to confess their privilege, or school
Introduction
— 323 — Department of Education l Stopping executive overreach. Congress should set policy—not Presidents through pen-and-phone executive orders, and not agencies through regulations and guidance. National emergency declarations should expire absent express congressional authorization within 60 days after the date of the declaration. Bolstered by an ever-growing cabal of special interests that thrive off federal largesse, the infrastructure that supports America’s costly federal intervention in education from early childhood through graduate school has entrenched itself. But, unlike the public sector bureaucracies, public employee unions, and the higher education lobby, families and students do not need a Department of Education to learn, grow, and improve their lives. It is critical that the next Administration tackle this entrenched infrastructure. NEEDED REFORMS Federal intervention in education has failed to promote student achievement. After trillions spent since 1965 on the collective programs now housed within the walls of the department, student academic outcomes remain stagnant. On the main National Assessment of Educational Progress (NAEP), reading out- comes on the 2022 administration have remained unchanged over the past 30 years. Declines in math performance are even more concerning than students’ lack of progress on reading outcomes. Fourth- and eighth-grade math scores saw the largest decline since the assessments were first administered in 1990. Average fourth-grade math scores declined five points, and average eighth-grade math scores declined eight points. Just one-third of eighth graders nationally are proficient in reading and math. Just 27 percent of eighth graders were pro- ficient in math in 2022, and just 31 percent of eighth graders scored proficient in reading in 2022. The NAEP Long-term Trend Assessment shows academic stagnation since the 1970s, with particular stagnation in the reading scores of 13-year-old students since 1971, when the assessment was first administered. Math scores, though modestly improved, are still lackluster. Additionally, the department has created a “shadow” department of education operating in states across the country. Federal mandates, programs, and proclama- tions have spurred a hiring spree among state education agencies, with more than 48,000 employees currently on staff in state agencies across the country. Those employees are more than 10 times the number of employees (4,400)10 at the federal Department of Education, and their jobs largely entail reporting back to Washing- ton. Research conducted by The Heritage Foundation’s Jonathan Butcher finds that the federal government funds 41 percent of the salary costs of state educa- tion agencies.11
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About These Correlations
Policy matches are calculated using semantic similarity between bill summaries and Project 2025 policy text. A score of 60% or higher indicates meaningful thematic overlap. This does not imply direct causation or intent, but highlights areas where legislation aligns with Project 2025 policy objectives.