April 30, 2025

Senate Passes Scott, Reed Resolution Designating April 2025 as Financial Literacy Month

Washington, D.C. – Tonight, the Senate passed Chairman Tim Scott (R-S.C.) and Senator Jack Reed’s (D-R.I.) resolution designating April 2025 as Financial Literacy Month. Recognized by the U.S. Senate since 2004, Financial Literacy Month is a national celebration of financial empowerment that raises awareness on the importance of financial education and provides 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.

“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,” said Senator Reed.

Senators 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) co-sponsored the resolution.

For the full text of the resolution, click here.

BACKGROUND:

As Chairman of the Senate Banking Committee, Chairman Scott has prioritized financial literacy and financial education. In his legislative priorities for the 119th Congress, Chairman Scott said that, “in his legislative efforts…he would work to include financial literacy provisions to ensure Americans have knowledge of and access to the tools necessary to climb the ladder of success.”

In the 118th Congress, Chairman Scott’s comprehensive housing proposal, the ROAD to Housing Act, aimed to increase access to high-quality housing counseling and financial literacy programs for families looking to buy a home or struggling to stay in one. In addition, Chairman Scott’s capital markets reform package, the Empowering Main Street in America Act, sought to enhance financial education programs to increase market understanding and participation, which will ultimately help more Americans achieve financial security.

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