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FOR IMMEDIATE RELEASE |
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State
Rep. Mark A. Longietti
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House passes Longietti bill to provide economic education to students
HARRISBURG, March 8 – The state House of Representatives today unanimously passed state Rep. Mark Longietti's bill that would provide personal financial and economic education to all Pennsylvania public and private school students.
"It is critical for our young people to learn how to develop a personal budget, handle finances and credit, and save and invest," said Longietti. "Research shows that many Americans have high rates of debt and low rates of savings. Hopefully, by providing financial education to our young people, we can help them better understand the value of money and how to handle it."
House Bill 101 would create the Economic Education and Personal Financial Literacy Program. It would require the Pennsylvania Department of Education to develop and maintain a clearinghouse of personal finance and economic literacy education resources, and to provide it to teachers, schools and organizations across the state. The department would consider material from a wide range of sources, which would be used in conjunction with economic concepts contained in state academic standards for economics, family and consumer science, and career education and work.
The department would identify and recognize schools that have exemplary economic and personal financial literacy programs.
This legislation would not require any funding from the General Assembly. The state Education Department would be authorized to accept funding from individuals and public and private corporations, as well as state and federal grants and appropriations for the program.
The bill now goes to the state Senate for its consideration.
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