Bill Text: NY J01045 | 2019-2020 | General Assembly | Introduced

New York Senate Resolution 1045 (Prior Session Legislation)

Introduced

Bill Title: Memorializing Governor Andrew M. Cuomo to proclaim April 2019, as Financial Literacy Month in the State of New York

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2019-04-05 - REFERRED TO FINANCE [J01045 Detail]

Download: New_York-2019-J01045-Introduced.html


Senate Resolution No. 1045

BY: Senator PARKER

        MEMORIALIZING Governor Andrew M. Cuomo to proclaim
        April 2019, as Financial Literacy Month in the State
        of New York

  WHEREAS,  The  State  of New York takes great pride in acknowledging
months in recognition of important issues; and

  WHEREAS, Financial Literacy Month  will  be  celebrated  during  the
month of April 2019; and

  WHEREAS,  Personal  financial  literacy ensures that individuals are
prepared to manage money, credit, and debt; it also  helps  them  become
responsible  workers,  heads  of  households,  investors, entrepreneurs,
business leaders, and citizens; and

  WHEREAS, In 2017, the United States household consumer debt  profile
was:    average  credit  card  debt:  $15,654;  average  mortgage  debt:
$173,995; and average student loan: $46,597; and

  WHEREAS, In total, American consumers  debt  totaled  nearly  $12.96
trillion; and

  WHEREAS,  Credit  card debt is the third largest source of household
indebtedness; mortgage and student loans debt markets are larger; and

  WHEREAS, Sixty-two percent of all Americans are living  paycheck  to
paycheck; and

  WHEREAS, Expanding access to these mainstream financial institutions
will provide individuals with less expensive and more secure options for
managing their finances and building wealth; and

  WHEREAS,  Increased  financial literacy empowers individuals to make
wise decisions and reduces the  confusion  caused  by  the  increasingly
complex economy; and

  WHEREAS,  Because  of  the present financial crisis, there is a need
for further support through government and private partnerships that can
provide efficient use of resources to leverage  technology  advancements
to reach additional consumers; and

  WHEREAS,  A greater understanding of, and familiarity with financial
markets and institutions will lead to increased  economic  activity  and
growth; now, therefore, be it

  RESOLVED,  That  this  Legislative Body pause in its deliberation to
memorialize  Governor  Andrew  M.  Cuomo  to  proclaim  April  2019,  as
Financial Literacy Month in the State of New York; and be it further

  RESOLVED,  That  a  copy  of this Resolution, suitably engrossed, be
transmitted to The Honorable Andrew M. Cuomo, Governor of the  State  of
New York.