[Congressional Record Volume 146, Number 51 (Monday, May 1, 2000)]
[Senate]
[Pages S3197-S3199]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                          AMENDMENTS SUBMITTED

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                 AKAKA (AND OTHERS) AMENDMENT NO. 3103

  (Ordered to lie on the table.)
  Mr. AKAKA (for himself, Mr. Kerrey, Mr. Wellstone, Mr. Moynihan, and 
Mrs. Murray) submitted an amendment intended to be proposed by them to 
the bill (S. 2) to extend programs and activities under the Elementary 
and Secondary Education Act of 1965; as follows:

       At the appropriate place in title V, insert the following:

     SEC. __. EXCELLENCE IN ECONOMIC EDUCATION.

       Title V (20 U.S.C. 7201 et seq.) is amended by adding at 
     the end the following:

              ``PART __--EXCELLENCE IN ECONOMIC EDUCATION

     ``SEC. __1. SHORT TITLE; FINDINGS.

       ``(a) Short Title.--This part may be cited as the 
     `Excellence in Economic Education Act of 2000'.
       ``(b) Findings.--Congress makes the following findings:
       ``(1) The need for economic literacy in the United States 
     has grown exponentially in the 1990's as a result of rapid 
     technological advancements and increasing globalization, 
     giving individuals in the United States more numerous and 
     complex economic and financial choices than ever before as 
     members of the workforce, managers of their families' 
     resources, and voting citizens.
       ``(2) Individuals in the United States lack essential 
     economic knowledge, as demonstrated in a 1998-1999 test 
     conducted for the National Council on Economic Education, a 
     private nonprofit organization. The test results indicated 
     the following:
       ``(A) Students and adults alike lack a basic understanding 
     of core economic concepts such as scarcity of resources and 
     inflation, with less than half of those tested demonstrating 
     knowledge of those basic concepts.
       ``(B) A little more than \1/3\ of those tested realize that 
     society must make choices about how to use resources.
       ``(C) Only \1/3\ of those tested understand that active 
     competition in the marketplace serves to lower prices and 
     improve product quality.
       ``(D) Slightly more than \1/2\ of adults in the United 
     States and less than \1/4\ of students in the United States 
     know that a Federal budget deficit is created when the 
     Federal Government's expenditures exceed its revenues in a 
     year.
       ``(E) Overall, adults received a grade of 57 percent on the 
     test and secondary school students received a grade of 48 
     percent on the test.
       ``(F) Despite these poor results, the test findings pointed 
     out that individuals in the United States realize the need 
     for understanding basic economic concepts, with 96 percent of 
     adults tested believing that basic economics should be taught 
     in secondary school.
       ``(3) A range of trends points to the need for individuals 
     in the United States to receive a practical economics 
     education that will give the individuals tools to make 
     responsible choices about their limited financial resources, 
     and about the range of economic choices which face all people 
     regardless of their financial circumstances. Examples of the 
     trends include the following:
       ``(A) The number of personal bankruptcies in the United 
     States rose and set new records in the 1990's, despite the 
     longest peacetime economic expansion in United States 
     history. One in every 70 United States households filed for 
     bankruptcy in 1998. Rising bankruptcies have an impact on the 
     cost and availability of consumer credit which in turn 
     negatively affect overall economic growth.
       ``(B) Credit card delinquencies in the United States rose 
     to 1.83 percent in 1998, which is a percentage not seen since 
     1992 when the effects of a recession were still strong.
       ``(C) The personal savings rate in the United States over 
     the 5 years ending in 1998 averaged only 4.5 percent. In the 
     third quarter of 1999, the personal savings rate dropped to 
     1.8 percent. A decline in savings rates reduces potential 
     investment and economic growth.
       ``(D) By 2030, the number of older persons in the United 
     States will grow to 70,000,000, more than twice the number of 
     older persons in the United States in 1997. The additional 
     older persons will add significantly to the population of 
     retirees in the United States and require a shift in private 
     and public resources to attend to their specific needs. The 
     needs of this population will have dramatic, long-term 
     economic consequences for younger generations of individuals 
     in the United States workforce who will need to plan well in 
     order to support their families and ensure for themselves a 
     secure retirement.
       ``(4) The third National Education Goal designates 
     economics as 1 of 9 core content areas in which teaching, 
     learning, and students' mastery of basic and advanced skills 
     must improve.
       ``(5) The National Council on Economic Education presents a 
     compelling case for doing more to meet the need for economic 
     literacy. While an understanding of economics is necessary to 
     help the next generation to think, choose, and function in a 
     changing global economy, economics has too often been 
     neglected in schools.
       ``(6) States' requirements for economic and personal 
     finance education are insufficient as evidenced by the fact 
     that, while 39 States have adopted educational standards 
     (including guidelines or proficiencies) in economics--
       ``(A) only 13 of those States require all students to take 
     a course in economics before graduating from secondary 
     school;
       ``(B) only 25 States administer tests to determine whether 
     students meet the economic standards; and
       ``(C) only 27 States require that the economic standards be 
     implemented in schools.
       ``(7) Improved and enhanced national, State, and local 
     economic education efforts,

[[Page S3198]]

     conducted as part of the Campaign for Economic Literacy led 
     by the National Council on Economic Education, will help 
     individuals become informed consumers, conscientious savers, 
     prudent investors, productive workforce members, responsible 
     citizens, and effective participants in the global economy.
       ``(8)(A) Founded in 1949, the National Council on Economic 
     Education is the preeminent economic education organization 
     in the United States, having a nationwide network that 
     supports economic education in the Nation's schools by 
     working with States, local educational agencies, and schools.
       ``(B) This network supports teacher preparedness in 
     economics through--
       ``(i) inservice teacher education;
       ``(ii) classroom-tested materials and appropriate 
     curricula;
       ``(iii) evaluation, assessment, and research on economics 
     education; and
       ``(iv) suggested content standards for economics.
       ``(9) The National Council on Economic Education network 
     includes affiliated State Councils on Economic Education and 
     more than 275 university or college-based Centers for 
     Economic Education. This network represents a unique 
     partnership among leaders in education, business, economics, 
     and labor, the purpose of which is to effectively deliver 
     economic education throughout the United States.
       ``(10) Each year the National Council on Economic Education 
     network trains 120,000 teachers, reaching more than 7,000,000 
     students. By strengthening the Council's nationwide network, 
     the Council can reach more of the Nation's 53,000,000 
     students.
       ``(11) The National Council on Economic Education conducts 
     an international economic education program that provides 
     information on market principles to the world (particularly 
     emerging democracies) through teacher training, materials 
     translation and development, study tours, conferences, and 
     research and evaluation. As a result of those activities, the 
     National Council on Economic Education is helping to support 
     educational reform and build economic education 
     infrastructures in emerging market economies, and reinforcing 
     the national interest of the United States.
       ``(12) Evaluation results of economics education activities 
     support the following conclusions:
       ``(A) Inservice education in economics for teachers 
     contributes significantly to students' gains in economic 
     knowledge.
       ``(B) Secondary school students who have taken economics 
     courses perform significantly better on tests of economic 
     literacy than do their counterparts who have not taken 
     economics.
       ``(C) Economics courses contribute significantly more to 
     gains in economic knowledge than does integration of 
     economics into other subjects.
       ``(13) Through partnerships, the National Council on 
     Economic Education network leverages support for its mission 
     by raising more than $35,000,000 annually for economic 
     education from the private sector, universities, and States.

     ``SEC. __2. EXCELLENCE IN ECONOMIC EDUCATION.

       ``(a) Purpose.--The purpose of this part is to promote 
     economic literacy among all United States students in 
     kindergarten through grade 12 by enhancing national 
     leadership in economic education through the strengthening of 
     a nationwide economic education network and the provision of 
     resources to appropriate State and local entities.
       ``(b) Goals.--The goals of this part are--
       ``(1) to increase students' knowledge of and achievement in 
     economics to enable the students to become more productive 
     and informed citizens;
       ``(2) to strengthen teachers' understanding of and 
     competency in economics to enable the teachers to increase 
     student mastery of economic principles and their practical 
     application;
       ``(3) to encourage economic education research and 
     development, to disseminate effective instructional 
     materials, and to promote replication of best practices and 
     exemplary programs that foster economic literacy;
       ``(4) to assist States in measuring the impact of education 
     in economics, which is 1 of 9 national core content areas 
     described in section 306(c) of the Goals 2000: Educate 
     America Act (20 U.S.C. 5886(c)) (as such section was in 
     effect on the day preceding the date of enactment of the 
     Educational Opportunities Act);
       ``(5) to extend strong economic education delivery systems 
     to every State; and
       ``(6) to leverage and expand private and public support for 
     economic education partnerships at national, State, and local 
     levels.

     ``SEC. __3. GRANT PROGRAM AUTHORIZED.

       ``(a) Grants to the National Council on Economic 
     Education.--
       ``(1) In general.--The Secretary is authorized to award a 
     grant to the National Council on Economic Education (referred 
     to in this section as the `grantee'), which is a nonprofit 
     educational organization that has as its primary purpose the 
     improvement of the quality of student understanding of 
     economics through effective teaching of economics in the 
     Nation's classrooms.
       ``(2) Use of grant funds.--
       ``(A) One-quarter.--The grantee shall use \1/4\ of the 
     funds made available through the grant and not reserved under 
     subsection (f) for a fiscal year--
       ``(i) to strengthen and expand the grantee's nationwide 
     network on economic education;
       ``(ii) to support and promote training, of teachers who 
     teach a grade from kindergarten through grade 12, regarding 
     economics, including the dissemination of information on 
     effective practices and research findings regarding the 
     teaching of economics;
       ``(iii) to support research on effective teaching practices 
     and the development of assessment instruments to document 
     student performance;
       ``(iv) to develop and disseminate appropriate materials to 
     foster economic literacy; and
       ``(v) to coordinate activities assisted under this section 
     with activities assisted under title II.
       ``(B) Three-quarters.--The grantee shall use \3/4\ of the 
     funds made available through the grant and not reserved under 
     subsection (f) for a fiscal year to award grants to State 
     economic education councils, or in the case of a State that 
     does not have a State economic education council, a center 
     for economic education (which council or center shall be 
     referred to in this section as a `recipient'). The grantee 
     shall award such a grant to pay for the Federal share of the 
     cost of enabling the recipient to work in partnership with 1 
     or more of the entities described in paragraph (3) for 1 or 
     more of the following purposes:
       ``(i) Collaboratively establishing and conducting teacher 
     training programs that use effective and innovative 
     approaches to the teaching of economics.
       ``(ii) Providing resources to school districts that want to 
     incorporate economics into the curricula of the schools in 
     the districts.
       ``(iii) Conducting evaluations of the impact of economic 
     education on students.
       ``(iv) Conducting economic education research.
       ``(v) Creating and conducting school-based student 
     activities to promote consumer, economic, and personal 
     finance education, such as saving, investing, and 
     entrepreneurial education, and to encourage awareness and 
     student achievement in economics.
       ``(vi) Establishing interstate and international student 
     and teacher exchanges to promote economic literacy.
       ``(vii) Encouraging replication of best practices to 
     encourage economic literacy.
       ``(C) Additional requirements and technical assistance.--
     The grantee shall--
       ``(i) meet such other requirements as the Secretary 
     determines to be necessary to assure compliance with this 
     section; and
       ``(ii) provide such technical assistance as may be 
     necessary to carry out this section.
       ``(3) Partnership entities.--The entities referred to in 
     paragraph (2)(B) are the following:
       ``(A) A private sector entity.
       ``(B) A State educational agency.
       ``(C) A local educational agency.
       ``(D) An institution of higher education.
       ``(E) Another organization promoting economic development.
       ``(F) Another organization promoting educational 
     excellence.
       ``(4) Administrative costs.--The grantee and each recipient 
     receiving a grant under this section for a fiscal year may 
     use not more than 25 percent of the funds made available 
     through the grant for administrative costs.
       ``(b) Teacher Training Programs.--
       ``(1) In general.--In carrying out the teacher training 
     programs described in subsection (a)(2)(B) a recipient 
     shall--
       ``(A) train teachers who teach a grade from kindergarten 
     through grade 12;
       ``(B) conduct programs taught by qualified teacher trainers 
     who can tap the expertise, knowledge, and experience of 
     classroom teachers, private sector leaders, and other members 
     of the community involved, for the training; and
       ``(C) encourage teachers from disciplines other than 
     economics to participate in such teacher training programs, 
     if the training will promote the economic understanding of 
     their students.
       ``(2) Release time.--Funds made available under this 
     section for the teacher training programs described in 
     subparagraphs (A) and (B) of subsection (a)(2) may be used to 
     pay for release time for teachers and teacher trainers who 
     participate in the training.
       ``(c) Involvement of Business Community.--In carrying out 
     the activities assisted under this part the grantee and 
     recipients are encouraged to--
       ``(1) include interactions with the local business 
     community to the fullest extent possible, to reinforce the 
     connection between economic education and economic 
     development; and
       ``(2) work with private businesses to obtain matching 
     contributions for Federal funds and assist recipients in 
     working toward self-sufficiency.
       ``(d) Federal Share.--
       ``(1) In general.--The Federal share of the cost described 
     in subsection (a)(2)(B) shall be 50 percent. The Federal 
     share of the cost of establishing a State council on economic 
     education or a center for economic education under subsection 
     (f), for 1 fiscal year only, shall be 75 percent.
       ``(2) Non-federal share.--The non-Federal share may be paid 
     in cash or in kind, fairly evaluated, including plant, 
     equipment, or services.
       ``(e) Applications.--
       ``(1) Grantee.--To be eligible to receive a grant under 
     this section, the grantee shall submit to the Secretary an 
     application at such time, in such manner, and accompanied

[[Page S3199]]

     by such information as the Secretary may require.
       ``(2) Recipients.--
       ``(A) In general.--To be eligible to receive a grant under 
     this section, a recipient shall submit an application to the 
     grantee at such time, in such manner, and accompanied by such 
     information as the grantee may require.
       ``(B) Review.--The grantee shall invite the individuals 
     described in subparagraph (C) to review all applications from 
     recipients for a grant under this section and to make 
     recommendations to the grantee regarding the funding of the 
     applications.
       ``(C) Individuals.--The individuals referred to in 
     subparagraph (B) are the following:
       ``(i) Leaders in the fields of economics and education.
       ``(ii) Such other individuals as the grantee determines to 
     be necessary.
       ``(f) Special Rule.--For each State that does not have a 
     recipient in the State, as determined by the grantee, not 
     less than the greater of 1.5 percent or $100,000 of the total 
     amount appropriated under subsection (i), for 1 fiscal year, 
     shall be made available to the State to pay for the Federal 
     share of the cost of establishing a State council on economic 
     education or a center for economic education in partnership 
     with a private sector entity, an institution of higher 
     education, the State educational agency, and other 
     organizations.
       ``(g) Supplement and Not Supplant.--Funds appropriated 
     under this section shall be used to supplement and not 
     supplant other Federal, State, and local funds expended for 
     the purpose described in section __6(a).
       ``(h) Report.--The Secretary shall prepare and submit to 
     the appropriate committees of Congress a report regarding 
     activities assisted under this section not later than 2 years 
     after the date funds are first appropriated under subsection 
     (i) and every 2 years thereafter.
       ``(i) Authorization of Appropriations.--There are 
     authorized to be appropriated to carry out this part 
     $10,000,000 for fiscal year 2001, and such sums as may be 
     necessary for each of the 4 succeeding fiscal years.''.
       On page 451, line 9, insert ``economics,'' after 
     ``geography,''.
       On page 472, line 4, insert ``economics,'' after 
     ``history,''.

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