Capitol Update: Financial Literacy Bill Passes Senate, Heads to Governor for Approval
On Thursday, September 14th, the Wisconsin State Senate held their first legislative session since the conclusion of the budget process. One of the bills on the calendar for consideration was a PIA priority bill, Assembly Bill 109, relating to requiring financial literacy education for high school graduation.
Since the legislation had already passed the Assembly earlier in the year, the vote on the Senate floor was the final legislative approval needed. The bill passed the vote in Senate with broad bipartisan support and now heads to Governor Evers for his signature. PIA sent a letter to Governor Evers urging him to sign the bill to help Wisconsin’s students get better prepared for the financial realities of adulthood. Read the letter here.
This legislation, if signed, will require high school students to take one-half credit of financial literacy education in high school prior to graduation. The course will touch on vitally important financial literacy topics such as credit, debt, saving and money management, and risk management and insurance. Agents too often witness the fallout of people driving uninsured or underinsured. Not only are there damaging financial consequences for those drivers, but there are also detrimental effects for those they interact with on Wisconsin’s roadways. This course does not guarantee responsible behavior, but it provides a foundation for students on the importance of their decision making when it comes to their financial futures. PIA thanks Representative Alex Dallman (R – Green Lake) and Senator Joan Ballweg (R – Markesan) for their work in authoring this important legislation.
Take just a minute to click the button below to email Governor Evers and tell him you want students to get personal financial literacy education in high school! Write your own email or copy and paste the message below!
Dear Governor Evers,
As an independent insurance agent, I often witness the fallout of the poor financial decision making of young people. Too many are unaware of the necessity of risk management and protecting themselves financially and then choose to drive without insurance or with inadequate insurance. This decision can have detrimental impacts on their personal financial futures and can also cause serious harm to other Wisconsinites on the roads.
I support Assembly Bill 109, relating to requiring personal financial literacy education for high school graduation. It is fundamental that Wisconsin students get an education on important financial topics such as saving, debt management, credit, risk management & insurance before they make financial decisions that could impact the rest of their lives.
Please sign this important bill into law when it comes to you. Thank you for your consideration.