Floor Statements

Madam Chair, as chairman of the Subcommittee on Higher Education, Lifelong Learning and Competitiveness, I rise in support of H.R. 3221, the Student Aid and Fiscal Responsibility Act.

I congratulate Chairman George Miller for his great leadership in bringing this historic legislation to the House floor. I also want to thank my colleagues from the Education and Labor Committee on both sides of the aisle for supporting the largest investment ever in higher education.

The bill embraces President Obama's educational priorities by helping us to reach the goal of producing the most college graduates in the world by 2020 and makes our workforce strong and competitive. This bill will provide much-needed relief to families who are struggling to pay tuition, as well as students and workers who seek to access high- skilled and family-sustaining jobs.

The legislation will increase affordability, accessibility, and college completion rates, particularly for first-generation college, low-income, minority, and middle class students.

H.R. 3221 invests $40 billion to increase the maximum annual Pell Grant scholarship to $5,550 in 2010, and by 2019 increase it to $6,900.

It also provides low-income and middle class families with reliable, affordable, high-quality direct Federal student loans, and simplifies the application process for financial aid.

H.R. 3221 strengthens our Nation's minority-serving institutions, MSIs, particularly in the STEM areas so students can stay in school, graduate and succeed in our global economy. It does this by investing $2.55 billion in our Nation's minority-serving institutions over a 10- year period. We estimate that this funding will reach at least 500 institutions of higher learning. These investments will expand educational opportunities in the STEM fields and support students in staying in school and graduating at our Nation's Historically Black Colleges and Universities; Hispanic-serving institutions; tribally controlled colleges and universities; predominantly black institutions; and Asian American and Native Pacific Islander-serving institutions.

These investments will create a new generation of minority workers in STEM fields, professionals that our country desperately needs to remain competitive in our world.

For decades, MSIs have provided educational opportunities for tens of thousands of minority, low-income, and first-generation college students due to their accessibility, affordability, and close proximity to the communities they serve. If we hope to reach President Obama's goals, we must make sure that more minority students are completing advanced college degrees.

This bill invests $10 billion in our Nation's community colleges to support President Obama's American Graduation Initiative and expands educational opportunities to millions of students who attend our Nation's community colleges.

These institutions serve young people who are just beginning their careers but need flexible schedules to work to pay their tuition and living expenses. They serve displaced workers who must upgrade their skills to pursue a new career and enter high-growth sectors of our economy.

They serve older students and adult learners who seek specialized training and are attending their local community college for the very first time. They serve veterans who are pursuing postsecondary education after having served in the military.

This bill includes $8 billion in investments in early childhood education to increase access to high-quality early education programs. And we know that children who have an early start by the time they enter kindergarten are more likely to go to college and succeed. There is proof that early reading and writing, from cradle to 5 years of age, equals success in school.

This legislation is fiscally responsible and helps reduce the deficit. It complies with pay-as-you-go and directs $8 billion in savings back to the U.S. Treasury to help pay down the deficit.

Our competitiveness and innovation in the world depends on our ability to invest in human capital and train a workforce for the 21st century. I urge my colleagues to support this historic investment in higher education.

Madam Speaker, I rise today to recognize the life of Dr. Norman Borlaug, who passed away on September 12, 2009 at the age of 95. Dr. Borlaug combated world hunger on a global scale by revolutionizing the science of agriculture. He developed and introduced high-yield, disease resistant crops and innovative agricultural techniques, which he then spread throughout the globe. These innovations started the ``Green Revolution,'' which allowed the world's food supply to keep up with the growth in population. Through his work, he saved hundreds of millions of lives from hunger and starvation. His life is testament to the extraordinary change one person can make. He was a Great American and our world shall forever benefit from his life's work.

Dr. Borlaug was born on a farm near Cresco, Iowa in 1914. He studied forestry and plant pathology at the University of Minnesota and completed his doctorate in 1942. Dr. Borlaug led a distinguished career that spanned more than 60 years. Much of his work was done in Mexico at Centro Internacional de Mejormientao de Maiz y Trigo, or the International Maize and Wheat Center. In 1984 he began teaching as a Distinguished Professor of International Agriculture at Texas A&M-- College Station. Throughout his life he continued to teach and inspire new generations of scientists and farmers. Agriculture in the 15th Congressional District of Texas and throughout the state has benefitted greatly from Dr. Borlaug's contributions.

Dr. Borlaug transformed the way the world feeds its population. The exponential growth in crop yields created stability and prosperity in nations that were struggling to feed its citizenry. Dr. Borlaug's ultimate legacy is one of world peace, which he achieved through ensuring that a basic human need was provided for throughout the world.

We offer our deepest condolences to Dr. Borlaug's friends and family: his daughter Jennie Borlaug Laube, his son, William Gibson Borlaug, and his grandchildren and great-grandchildren.

Mr. Speaker, I rise today in strong support of H.R. 2053, a bill to name the new El Paso Federal courthouse after the late Judge Albert Armendariz, Sr.

Judge Armendariz helped change the landscape for Latinos in Texas and nationwide. He dedicated his life to representing immigrants and is best remembered for his work on the landmark case, Hernandez v. the State of Texas, which established Latinos as a distinct class entitled to protection under the 14th amendment.

Over his lifetime, Judge Armendariz had a wide and varied career. Not only was he a distinguished judge and civil rights leader, but he was a WWII veteran, the founder of the Mexican American Legal Defense and Educational Fund (MALDEF), national president of the League of United Latin American Citizens (LULAC), a Federal immigration judge and founding board member of the Mexican American Bar Association of El Paso.

In addition, in the late 1950s and early 1960s, Judge Armendariz served on the El Paso Civil Service Commission and is credited with helping to open the city's police and fire departments to Mexican- Americans.

Judge Armendariz gave so much to the El Paso community and to our Nation. I urge all of my colleagues to support this resolution to honor this great American.

Mr. Speaker, I stand before you as a member of the Education and Labor Committee. It is a pleasure to stand before you today to speak about the Adult Education and Economic Growth Act of 2009, known as H.R. 3238, legislation that my friend and colleague Representative Patrick Kennedy of Rhode Island and I introduced on Thursday, July 16, 2009.

As we all know, our Nation is facing one of the most difficult economic times in history. Technology and globalization, coupled with the economic recession, are causing low-wage and low-skilled workers to become particularly vulnerable. According to the Bureau of Labor Statistics, unemployment among individuals with less than a high school diploma has risen from 7\1/2\ percent in December of 2007 to almost 15 percent in April 2009. The unemployment rate for high school graduates with no college degree has increased from 4.6 percent to 9.3 percent. Currently, the U.S. ranks 11th among OECD countries in the percent of young adults with a high school diploma. We should be especially concerned that we are the only country in which younger adults are less educated than the previous generation. More than 40 million adults across our country have basic skills needs or limited proficiency in English that keep them from participating fully in work, in family and community activities.

In 2007, more than 25 million adults ages 18 to 64 had no high school credential. In 2006, 18,400,000 adults spoke English less than ``very well'' according to the U.S. Census Bureau. In my congressional district alone, there are 154,000 adults without a high school diploma. In addition, another 444,000 adults speak a language other than English or do not speak English ``very well.'' In Texas, we have 3.8 million adults who do not have a high school diploma. This is unacceptable. We must do much more to educate our adult learners and assist them in acquiring the 21st century skills they need to succeed in the workplace.

In my conversations with business leaders in my congressional district and across the country, they have shared their desire for a highly educated and trained workforce. Employers need highly skilled workers to compete globally, particularly in high-growth industries and occupations such as health care.

Despite these alarming statistics and realities, we have not made adequate investments in our adult education delivery system. Our adult education and workforce training delivery systems are in great need of reform. In many States, thousands of adult learners are experiencing long waiting lists for adult literacy services to increase their basic literacy skills or improve their English skills. More than 77 percent of community-based literacy programs currently report waiting lists. Current funding reaches only 2.8 million of these adults each year and thousands more are on those waiting lists that I mentioned for adult literacy services.

A report issued this month by the President's Council on Economic Advisers, Preparing the Workers of Today for the Jobs of Tomorrow, underscores that our modern economy requires workers with higher skills and the need to employ workers with education and training beyond the high school level.

In closing, I want to say that the report identifies key limitations to our education and training system, including low completion rates, limited accountability, poor coordination among different programs and excessive bureaucratic restrictions on the use of training funds.

If we are to remain competitive in the global economy, we must invest in high quality adult education and workforce training programs that lead to family-sustaining jobs in careers with the promise of advancement and postsecondary education.

Mr. Speaker, I invite Members of Congress on both sides of the aisle to sign on as cosponsors to this legislation.

The ``Adult Education and Economic Growth Act,'' H.R. 3238, strengthens our adult education and workforce training systems, increases economic growth in local communities and supports President Obama's call to once again lead the world college degrees by 2020.

This legislation provides adult learners with greater access to obtain basic literacy or workplace skills, including English as a Second Language. This bill assists adults in gaining admission to job training programs and postsecondary education.

This legislation provides adequate resources for innovative educational and workforce programs, so that states can bridge the gap between adult education and occupational skills training. Our adult learners will be better served by having access to integrated approaches to education and workforce training.

This legislation expands access by ensuring that federal funding formulas accurately take into account the adult education and workforce skills needs of individual states, including the number of adults who are limited English proficient.

This legislation increases access to adult education, literacy, and workplace skills through the use of technology.

This legislation increases access to correctional educational programs and provides added accountability in the system.

This legislation invests in lower skilled workers by providing employers with a tax credit.

We must reform our adult education and workforce delivery systems if we are to provide adults with the educational opportunities and 21st century skills needed to acquire family-sustaining wages and remain globally competitive.

Madam Speaker, on rollcall No. 573, had I been present, I would have voted ``yea.''

Mr. Chair, on rollcall No. 516, had I been present, I would have voted ``aye.''

Stated against:

Mr. Chair, on rollcall No. 517, had I been present, I would have voted ``no.''

Part B Amendment No. 6 Offered by Mr. Stearns

Mr. Speaker, I move to suspend the rules and concur in the

Senate amendment to the bill (H.R. 1777) to make technical corrections to the Higher Education Act of 1965, and for other purposes.

Mr. Speaker, I request 5 legislative days during which Members may revise and extend and insert extraneous material on H.R. 1777 into the Record.

I yield myself such time as I may consume.

Mr. Speaker, I rise today in support of H.R. 1777, a bill to make technical corrections to H.R. 4137, which is the Higher Education Act.

Mr. Speaker, the House originally passed this legislation on March 30, 2009. This is a revised version from the Senate. The Senate made additional conforming and technical changes, including a scholarship program for students whose parent or guardian was a member of the Armed Forces of the United States and died as a result of performing military service in Iraq or Afghanistan after September 11, 2001, clarifying the ``experimental site'' authority at the Department of Education. Let me explain some of these changes.

Currently, borrowers may rehabilitate their defaulted Federal student loans by making nine on-time payments. Once they meet this threshold, the guaranty agency may sell the loan to a lender, which results in the default being removed from the borrowers' credit reports.

Mr. Speaker, because of the current credit crunch, guaranty agencies have been unable to find lenders for these loans. The bill amends the loan to allow those loans qualified for rehabilitation to be assigned to the Department of Education for this purpose.

The bill makes three changes to the exemption of veterans' assistance in the calculation of the Federal financial aid. The first is to clarify that assistance under the Montgomery GI Bill is included in exempted veterans' benefits, and the second is to move the date of the exemption of veterans' benefits from the calculation of the estimated financial assistance from July 1, 2010, to July 1, 2009.

The third change is to provide scholarships in the amount of the maximum Pell Grant award to students whose parent or guardian was a member of the Armed Forces of the United States and died as a result of performing military service in Iraq or Afghanistan after September 11, 2001.

The bill ensures the continuation of the Department of Education's ``experimental site'' program on existing campuses for another year and defines a successful program as one that reduces administrative cost and increases student services, without additional cost to the government.

In closing, Mr. Speaker, I would like to thank our committee chairman, Representative George Miller from California, and our ranking member, John Kline, along with our ranking

member on the subcommittee, Representative Brett Guthrie of Kentucky, for expediting this legislation and helping us make these needed corrections in a bipartisan manner.

I urge all my colleagues to vote ``yes'' on H.R. 1777.

I reserve the balance of my time.

Mr. Speaker, I have no other speakers, and I yield back the balance of my time.

Madam Speaker, on rollcall No. 354, had I been present, I would have voted ``yea''.

Madam Chair, on rollcall No. 310, had I been present, I would have voted ``aye.''

Amendment No. 2 Offered by Ms. Ros-Lehtinen

Mr. Speaker, on rollcall No. 301, had I been present, I would have voted ``yea.''

Mr. Speaker, I thank the gentlewoman from my wonderful congressional class of 1996 for giving me this time and opportunity to speak about an issue that is very important to us in Texas.

I rise in strong support of H.R. 1393, a bill that will authorize a variety of water conservation projects, including several in my congressional district in Texas and other projects all the way up to El Paso.

I want to thank Chairman Rahall and Ranking Member Hastings for bringing the legislation to the floor.

I represent a region of the country that is subject to periodic droughts but yet is experiencing phenomenal population growth. When I came to Congress in 1997, we had 7 years of drought that made it impossible for our farmers to be able to make a profit. The 2000 census showed that the population of Hidalgo County, in my congressional district, increased by 48 percent. The 2010 census is expected to show a very similar growth of 48 to 50 percent.

On the Mexican side of the border, millions have come to work in the maquiladoras to take advantage of the economic boom that has come from NAFTA. This growth has placed an enormous strain on water delivery systems along the Texas-Mexico border.

Agriculture irrigation water often flows through open dirt ditches, and studies show that much is lost to seepage. Much of it is also lost to evaporation. Municipalities rely on the water from the irrigation delivery systems to meet the water needs of growing communities.

This bill, H.R. 1393, will authorize 19 projects that will allow border water districts to continue upgrading and modernizing our antiquated water delivery systems through the installation of water pipes--PVC pipes and canal linings. That is what we have been doing during the last 10 years, saving anywhere from 38 to 42 percent of water that we would have lost to seepage and evaporation. Similar projects were authorized in the 106th and 107th Congresses. This identical bill was passed in the 109th and 110th Congresses, but it has always stalled in the Senate. I am hoping that the third time is the charm.

We have already made a great deal of progress because this has been a collaborative effort. The irrigation districts have provided matching funds. The Texas Water Development Board and Texas A&M University have paid for many of the engineering studies. Federal appropriators have provided close to $20 million for previously authorized projects. These funds are being put to good use. Numerous projects are already under way, and some are almost completed.

Mr. Speaker, as a result, we are seeing a water savings of as high as 80 percent in the projects that have been completed. When the metering system is fully installed, irrigation districts have a much clearer picture of water usage and of water savings. This type of investment is bringing us the state of the art in irrigation systems in agricultural regions like the ones we have in deep south Texas. This data will be vital to improving water management throughout our region.

Most importantly, Federal authorization has allowed us to tap into the resources of the North American Development Bank. To date, NADBank has approved almost $24 million for these kinds of projects, and the passage of H.R. 1393 will make these new projects eligible for NADBank assistance.

In closing, I wish to say that, as south Texas moves back into a drought cycle, I urge my colleagues to support this critical legislation. I urge my colleagues on both sides of the aisle to support

Mr. Speaker, on rollcall No. 282, had I been present, I would have voted ``yea.''

Mr. Speaker, I rise today in strong support of H.R. 627, the Credit Cardholders' Bill of Rights Act of 2009, introduced in the House by Congresswoman Carolyn Maloney from New York.

H.R. 627 will help consumers, especially Latinos, by eliminating harmful credit card industry policies and practices that have resulted in a dangerous accumulation in the Latino community of unsecured debt. It will empower Hispanics to reduce their reliance and dependence on credit cards, and help them build the assets and wealth they need for long-term economic stability, and to eventually attain the American Dream of homeownership.

As chairman of the Subcommittee on Higher Education, I strongly support the provisions in the bill that increase protections for students against aggressive credit card marketing and increased transparency of affinity arrangements between credit card companies and universities.

Mr. Speaker, this legislation is long overdue. It's imperative that we pass this bill and that the President sign it into law as soon as possible to begin the journey toward credit card reform.

Congresswoman Maloney's legislation will help all individuals residing in the U.S. and will improve financial literacy of Americans across the board, which is the goal of the Financial and Economic Literacy Caucus I co-founded and currently co-chair with Congresswoman Judy Biggert of Illinois.

I strongly encourage all my colleagues to support this very important and timely piece of legislation.

Mr. Speaker, on rollcall No. 276, had I been present, I would have voted ``aye.''

Madam Speaker, on Thursday, May 7, 2009, I was unavoidably detained from voting on several amendments to, and final passage of, H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act.

Had I been present for those votes on the floor of the House of Representatives, I would have voted the following way: on Rollcall No. 238, I would have voted ``aye''; on Rollcall No. 239, I would have voted ``nay''; on Rollcall No. 240, I would have voted ``nay''; on Rollcall No. 241, I would have voted ``nay''; and on Rollcall No. 242, I would have voted ``aye.''

Mr. Speaker, personal financial management skills and lifelong habits begin to develop during childhood. As such, it is essential that we begin preparing our youth as early as possible on how to make informed financial choices, manage money, credit, debt, and risk and eventually become responsible workers, heads of households, investors, entrepreneurs, business leaders, and citizens.

We need to begin working closely with the Department of Education and states and localities to ensure that we begin the financial literacy learning process at least by the time a child enters Kindergarten.

Policymakers of both parties, at the local, state, and federal levels, recently have increased their focus on financial literacy and economic education issues because national surveys reveal troubling gaps in students' and the public's knowledge of these subjects. Economic competency and financial literacy skills are critical for individuals to make sound decisions regarding home ownership, savings, investment, credit and borrowing, and retirement planning. An educated and financially literate populace will strengthen the national economy, especially as individuals improve their own economic well-being.

Our government should lead by example. We should coordinate and communicate a unified message on financial literacy across this Nation. We should authorize and appropriate such funds as necessary to create a broad-based public awareness campaign comprised of a substantial mass- market, multimedia effort in support of a national financial literacy initiative on the scale of the ``truth'' campaign, developed through the Public Education Fund to discourage smoking among young people.

I believe that the National Endowment on Financial Education and several other financial literacy nonprofits and community based groups would agree with me. My proposed financial literacy initiative would be in addition to the one recommended in the Office of Housing Counseling legislation as introduced by my fellow Financial and Economic Literacy Caucus Co-Chair, colleague and friend, Congresswoman Judy Biggert. I am a proud cosponsor of her legislation and am pleased that it was incorporated into H.R. 1728, the ``Mortgage Reform and Anti-Predatory Lending Act.''

In 2004, Congress passed a bill known as the FACT Act. One of the provisions in that Act required Treasury and a Financial Literacy Education Commission to create a national financial literacy campaign. They failed miserably, and, consequently, I think we need to revisit Title V of the FACT Act to alter the composition and contributions and goals of the Financial Literacy and Education Commission housed at Treasury once the Deputy Assistant Secretary for the Office of Financial Education is selected.

Mr. Speaker, some disturbing facts.

A 2008 survey of high school seniors conducted by the Jump$tart Coalition for Personal Financial Literacy revealed that students in 2008 answered correctly only 48.3 percent of the survey's questions, a decline from those posted by students in 2006, who correctly answered 52.4 percent of the questions;

Eighty-four percent of undergraduates had at least one credit card in 2008, up from 76 percent in 2004, with the average number of cards increasing to 4.6 according to Sallie Mae's National Study of Usage Rates and Trends 2009 entitled ``How Undergraduate Students Use Credit Cards'';

Personal saving as a percentage of disposable personal income was 4.2 percent in February, compared with 4.4 percent in January, and up from a 12-month average of 1.7 percent in 2008, according to the Bureau of Economic Analysis;

The average baby boomer has only $50,000 in savings apart from equity in their homes, according to the Federal Reserve Board's Survey of Consumer Finances for 2007; and,

Studies show that as many as 10,000,000 households in the United States are ``unbanked'' or are without access to mainstream financial products and services.

These statistics are alarming.

All of us here in Congress and across the United States need to take actions necessary to address and improve upon these startling facts. I am pleased to announce that I am a proud cosponsor of Congresswoman Carolyn Maloney's Credit Cardholders' Bill of Rights. I supported it in Committee and voted for it when it passed the House.

One other way of addressing these alarming statistics is by increasing the number of Members of Congress dedicated to the financial literacy cause. By joining the Financial and Economic Literacy Caucus my colleague and friend

Congresswoman Judy Biggert and I co-founded in 2005 and currently co- chair, Members can take a giant step forward and help us find the ways and means to improve financial literacy across the United States for all individuals during all stages of life.

As members of the Caucus, my colleagues in the House can collaborate on events such as the National Consumer Protection Week Fair, America Saves Week, Financial Literacy Month, and the Financial Literacy Day Fair held every other year in the House of Representatives.

By joining the Caucus, Members can collaborate with us to increase funding for the Council for Economic Education's Excellence in Economic Education (EEE) program. Congress authorized the EEE as part of the No Child Left Behind Act ``to promote economic and financial literacy of all students in kindergarten through grade 12.'' In 2004, the Department of Education selected from a competitive process the Council for Economic Education (formerly named the ``National Council for Economic Education'') to administer and implement the Excellence in Economic Education program authorized in the No Child Left Behind Act (P.L. 107-110), Subpart 13, Sections 5531-5537).

Educating students in grades K-12 is the best way to help them develop the knowledge and skills they will need for a lifetime of economic and financial decisions. The EEE program accomplishes this through sub-grants to

state and local educational organizations for activities that include distribution of curricular materials, replication of best practices and teacher training.

EEE is a targeted, demand-driven, grassroots program. Three quarters of the funding goes directly to ongoing state and local economic education and financial literacy initiatives with proven track records. The program also requires a thorough review and assessment of the use and effectiveness of the sub-grants. Finally, federal resources are leveraged through the requirement that sub-grant recipients match EEE funds dollar-for-dollar.

Since that time: 48 states and the District of Columbia have been served by Excellence in Economic Education (EEE) sub-grants in project years 2004-08; 495 sub-grants were awarded in that time-frame; $5,418,539 has been awarded to grass-roots organizations nationwide; over 1,500 copies the 2007 Survey of the States were distributed to individuals and agencies interested in improving economic and financial literacy.

During Financial Literacy Month 2009, the Jump$tart Coalition for Personal Financial Literacy, Junior Achievement, and the Council for Economic Education hosted the Financial Literacy Day Fair on Capitol Hill in collaboration with myself and Congresswoman Biggert in our roles as co-chairs of the Caucus. Over 800 people attended this year's Financial Literacy Day Fair on April 30, 2009 in the Cannon Caucus Room, 345 Cannon, and more than 50 vendors participated presented their financial literacy pamphlets, brochures, DVDs, and more at the Fair. The youngest participant was an 11 week old baby girl named Juliana and a man in his late 80s/early 90s who has worked on Capitol Hill for quite some time.

Also during Financial Literacy Month 2009, bankers across the United States taught savings skills to young people on April 21, 2009, during Teach Children to Save Day. This Day was started by the American Bankers Association Education Foundation in April of 1997 and has now helped more than 72,000 bankers teach savings skills to nearly 3,200,000 young people.

Staff from America's credit unions made presentations to young people at local schools on financial topics such as student loans, balancing a checkbook, and auto loans during National Credit Union Youth Week, April 19-25, 2009;

More than 100 Federal agencies have collaborated on a website, www.consumer.gov, which helps consumers shop for a mortgage or auto loan, understand and reconcile credit card statements and utility bills, choose savings and retirement plans, compare health insurance policies, and understand their credit report and how it affects their ability to get credit and on what terms.

In my district, I've held four different financial literacy events at four different schools. I was able to host financial literacy programs at four different schools in the Beeville as well as the Edinburg area of my district. We provided financial literacy workshops to well over 400 high school students in three days. I hope to add even more events in my district during Financial Literacy Month 2010.

Mr. Speaker, there are hundreds of other financial literacy programs out there for us to tap and integrate into resolutions, legislation, authorizations and appropriations.

It is important that we support the goals and ideals of Financial Literacy Month, including raising public awareness about financial education; recognize the importance of managing personal finances, increasing personal savings, and reducing personal debt in the United States; and, that the President, the Federal Government, States, localities, schools, nonprofit organizations, businesses, and the people of the United States observe the month with appropriate programs and activities with the goal of increasing financial literacy rates for individuals of all ages and walks of life.

I am pleased to insert at the end of my remarks a Presidential Statement I received April 30, 2009 from President Barack Obama. In it, he states that he is ``pleased to join all who are observing Financial Literacy Month.'' He goes on to state that ``It is more important than ever to understand how to balance a checkbook, budget wisely, plan for retirement and avoid accumulating debts that could harm your financial future. A strong American economy depends on everyone . . . We must pass along such fundamental knowledge to our family and friends, because financial literacy empowers all of us.''

I am personally thrilled that President Obama has issued this Financial Literacy Month Statement, and I look forward to working with him, his staff at the White House, staff at Treasury, and other federal agencies on financial literacy issues now and well into the future.

I am also inserting at the end of my remarks a list of the Members of Congress who are part of the Financial and Economic Literacy Caucus and have given permission that their names be listed publicly as members of the Caucus.

Together we can improve our economy. Together, we can re-establish our prominence in the global marketplace, and together we can work to ensure that the United States remains at the top of the global economy by teaching our youth as early as possible how to manage their finances.

We need to act soon. We need to act fast, and we need to act prudently and decisively.

Si, Se Puede!

Current List of Members of the Financial and Economic Literacy Caucus

Who Have Agreed To Make Their Names Public

Joe Baca, Melissa Bean, Judy Biggert, Brian Bilbray, Dennis

Cardoza, William ``Lacy'' Clay, Emanuel Cleaver, Tom Cole,

Jim Costa, and Joseph Crowley.

Elijah Cummings, Geoff Davis, Eliot Engel, Scott Garrett,

Al Green, Jim Himes, Ruben Hinojosa, Eddie Bernice Johnson,

Patrick Kennedy, Sheila Jackson-Lee, Carolyn McCarthy, Earl

Pomeroy, and Loretta Sanchez.