[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 993 Introduced in House (IH)]







110th CONGRESS
  2d Session
H. RES. 993

 Expressing support for the second annual America Saves Week 2008 from 
                February 24, 2008 through March 2, 2008.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 19, 2008

Mrs. Jones of Ohio (for herself and Mr. Tiberi) submitted the following 
 resolution; which was referred to the Committee on Financial Services

_______________________________________________________________________

                               RESOLUTION


 
 Expressing support for the second annual America Saves Week 2008 from 
                February 24, 2008 through March 2, 2008.

Whereas America Saves is a 7 year old social marketing campaign in which over 
        1,000 local, State, and national organizations have motivated more than 
        100,000 people to enroll as ``American Savers'' by making a commitment 
        to save for a goal of their choice and to develop a plan to achieve this 
        goal;
Whereas, with the national savings rate consistently hovering around 0 for the 
        past 6 years, America Saves is the call to action that we must not spend 
        all, but save some, of our incomes;
Whereas the America Savings Education Council (``ASEC'') a national coalition of 
        public and private-sector institutions founded in 1995 is committed to 
        making saving and retirement planning a priority for all Americans;
Whereas the ASEC actively promotes the savings message through its national 
        award winning Choose-to-Save Campaign
Whereas, launched in 2001 with one city, Cleveland, Ohio, America Saves has now 
        53 local, State, and national campaigns, including Philadelphia Saves, 
        Utah Saves, San Diego Saves, New York State Saves, Texas Saves, Kansas 
        City Saves, Milwaukee Saves, Miami Saves, Tennessee Saves, Silicon 
        Valley--South Bay Saves, Military Saves, Youth Saves, Black America 
        Saves, Hispanic Saves, and America Saves through Homeownership;
Whereas local activities are being organized in many cities and localities 
        around the country that encourage individuals to take action such as 
        opening a savings account for emergencies, participating in work place 
        retirement programs, or setting a goal such as homeownership and 
        establishing a savings account dedicated for that purpose;
Whereas America Saves has over 500 financial institutions, both banks and credit 
        unions, providing no-fee or low-fee, low-opening-balance savings 
        accounts that allow small savers to achieve success;
Whereas, as an example, America Saves has to date enrolled 8,700 American Savers 
        in the area of Cleveland, Ohio, alone, over 10,000 of them have saved or 
        reduced debt by an estimated $8,300,000, which is on average $600,000 
        per month;
Whereas the lack of national savings is particularly egregious as numerous 
        homeowners face mortgage foreclosures in the wake of the ``subprime 
        crisis'' because most Americans do not have 1 month of savings or liquid 
        assets, let alone the recommended 6 months of savings or liquid assets 
        if they experience financial troubles;
Whereas this second America Saves Week, February 24, 2008 to March 2, 2008, is 
        being introduced as an annual event to focus all of us on the need and 
        opportunities for financial action; and
Whereas the issue of making saving automatic and habitual is a primary focus for 
        this second America Saves Week: Now, therefore, be it
    Resolved, That the House of Representatives--
            (1) recognizes the importance of increasing the savings 
        rate and reducing consumer indebtedness in the United States 
        through effective social marketing campaigns;
            (2) supports the goals and ideals of America Saves Week; 
        and
            (3) encourages the President to issue a proclamation 
        calling upon the people of the United States to participate in 
        America Saves Week with appropriate activities.
                                 <all>