The U.S. Senate has approved a resolution spearheaded by Chairman Tim Scott and Senator Jack Reed, designating April 2025 as Financial Literacy Month. This initiative aims to enhance financial education accessibility and awareness in the United States, continuing a tradition upheld by the Senate since 2004.
Financial Literacy Month is a nationwide effort to promote financial empowerment by providing resources to help citizens establish sound financial habits. Chairman Scott emphasized the vital role of financial literacy in reaching financial independence, stating, “Financial literacy is critical to achieving financial independence and the American Dream.”
Senator Reed highlighted the lifelong importance of financial literacy, remarking, “From managing a household budget to making major purchases to laying the foundation for a secure retirement, financial literacy is a lifelong endeavor.”
The resolution received bipartisan support from several senators, including Ron Wyden, Dick Durbin, and Susan Collins, among others. The Senate's commitment to financial literacy reflects ongoing efforts to provide Americans with the knowledge and tools necessary for financial stability. Chairman Scott, as the head of the Senate Banking Committee, has prioritized financial education in his legislative agenda.
Scott's past initiatives, such as the ROAD to Housing Act, have emphasized financial education and housing counseling for prospective homeowners. The Empowering Main Street in America Act is another example of his commitment to enhancing financial understanding and market participation across the country.