[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 1082 Introduced in House (IH)]

111th CONGRESS
  2d Session
H. RES. 1082

  Supporting the goals and ideals of the fourth annual America Saves 
                                 Week.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 22, 2010

Ms. Eddie Bernice Johnson of Texas (for herself, Mr. Hinojosa, and Mrs. 
Biggert) submitted the following resolution; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                               RESOLUTION


 
  Supporting the goals and ideals of the fourth annual America Saves 
                                 Week.

Whereas financial security is one of the most important issues for most 
        Americans, whether it involves saving for a college education, an 
        unforeseen emergency, a house, or for retirement;
Whereas personal savings as a percentage of disposable income has risen from 1.2 
        percent in the first quarter of 2008 to 4.8 percent in the fourth 
        quarter of 2009, according to the Bureau of Economic Analysis;
Whereas according to the Employee Benefit Research Institute, the percentage of 
        workers very confident about having enough money for a comfortable 
        retirement fell to 13 percent in 2009, down from 18 percent in 2008, and 
        more workers expect to work longer to supplement their income in 
        retirement;
Whereas older Americans are more likely to live within 200 percent of poverty 
        than any other age group, according to the 2009 Employee Benefit 
        Research Institute's Databook, and more than 60 percent of the current 
        elderly population relies on Social Security for over three-fourths of 
        their annual income, according to a 2009 Social Security Administration 
        report;
Whereas the average savings of retirees remains at $50,000 according to the 
        Federal Reserve Board's Survey of Consumer Finances for 2007, and recent 
        financial instability has diminished those funds;
Whereas America Saves, managed by the Consumer Federation of America, was 
        established nine years ago as an annual nationwide campaign that 
        encourages consumers, especially those in lower-income households, to 
        increase their financial literacy, enroll as American Savers, and 
        establish a personal savings goal in an effort to build personal wealth 
        and enhance financial security;
Whereas over 2,000 local, State, and national organizations, including 
        government agencies, financial institutions, and non-profits, have 
        motivated more than 245,000 people to enroll as American Savers through 
        events such as financial literacy classes, financial fairs, free tax 
        preparation assistance programs, and deposit campaigns; and
Whereas encouraging automatic and habitual savings is a primary focus for this 
        year's America Saves Week, February 21, 2010, through February 28, 2010, 
        and that focus is reflected in the work of the Financial and Economic 
        Literacy Caucus, America Saves, and American Savings Education Council's 
        Choose to Save Campaign: Now, therefore, be it
    Resolved, That the House of Representatives--
            (1) recognizes the importance of savings to financial 
        security;
            (2) supports the goals and ideals of ``America Saves 
        Week''; and
            (3) requests that the President issue a proclamation 
        calling on the Federal Government, States, localities, schools, 
        non-profit organizations, businesses, other entities, and the 
        people of the United States to observe America Saves Week with 
        appropriate programs and activities with the goal of increasing 
        the savings rates for individuals of all ages and walks of 
        life.
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