House Education Committee member Jack O’Malley today voted to advance legislation promoting financial literacy for young people.
House Bill 5190 requires course credit in personal finance in order to finish high school, beginning with students entering eighth grade in 2023. It adds a half credit requirement while reducing the foreign language requirement from two to one-and-a-half credits to offset the changes.
“Far too often, we see examples of young people who are not well-versed in how to handle financial situations and they make ill-informed decisions with their futures,” said O’Malley, of Lake Ann. “These decisions at 17 or 18 years old can have massive, long-lasting ramifications. For some, it takes years to dig out. Emphasizing personal finance makes our curriculum more well-rounded and will offer benefits to students who are entering a phase of their life where they are pressed into big choices.
“This is a practical change.”
As of June, when most schools around the country begin to break for the summer, 25 states had introduced legislation that would add personal finance education to their high school curriculum, according to the Next Gen Personal Finance organization. Bills in Arkansas, Hawaii and Nebraska have already been signed into law.
HB 5190 now moves to the full House for further consideration.
By state Rep. Jack O’Malley of Lake Ann Each holiday we celebrate in our country holds special significance and meaning. It’s what makes them different from all the other days. Thanksgiving has always been a favorite of mine. It signifies enjoying a good meal with loved ones and saying thank you for all the blessings […]
Rep. O’Malley talks about House Bill 5190, which would modify the Michigan Merit Curriculum to include successful completion of a half-credit course in personal finance as a graduation requirement. Currently, students must take two full credits of a language other than English to graduate. The bill would adjust this requirement to 1½ credits in conjunction […]
State Rep. Jack O’Malley, of Lake Ann, today said findings from the state Auditor General show a key arm of Gov. Gretchen Whitmer’s administration made crucial and costly errors implementing a federal program. The Auditor General examined the state’s Pandemic Unemployment Assistance (PUA) process, including application and eligibility criteria that was not federally compliant. The […]
Advancing legislation makes renewed commitment to shipping industry A plan from state Rep. Jack O’Malley charting a course for investment into Michigan maritime commerce was overwhelmingly approved recently by the Michigan House. House Bill 5291 would establish a Port Facility Improvement Grant program for the expansion and creation of public and private ports within the […]