Assembly Majority Rejects Common-Sense ‘Financial Literacy’ Education

On Tuesday, April 18th, the Assembly Committee on Education rejected legislation (A.2928) introduced by Assemblyman Josh Jensen (R,C-Greece) that would require all public and private schools to provide students with financial literacy education. Jensen’s proposal would help educate young individuals on informed financial decisions by learning the necessary skills prior to high school graduation.

Jensen’s common-sense legislation was only considered by the committee after he filed a legislative maneuver that forced a review of the bill. After debate and discussion, Assembly Majority lawmakers voted in unison to block the proposal from being voted on by the full Assembly, rendering it “killed” for the Legislative Session.

The end of high school is when students begin having to make long-term financial decisions, whether it is applying for college financial aid, getting their first job or purchasing a car. Understanding everyday financial decisions will help to ensure a greater possibility of lifelong financial security. Jensen’s proposal would require schools to expand their curriculum to better prepare their students for a wide range of specific financial knowledge as a standalone course or as part of an existing course.

“It is disappointing that when given that chance to increase the financial literacy of New York’s high schoolers and help prepare students for the world in which they will encounter after graduation, some of my colleagues on the Education Committee chose to put partisan politics ahead of common-sense,” said Jensen. “Our priority as a state should be ensuring that children and young adults are granted a well-rounded education in all subjects, and certainly, judging by the budgetary actions of New York, this time of education is sorely needed moving forward.”