Press Releases

Pa. House Passes Financial Literacy Resolution

Reaching Out to Consumers with Important Message

HARRISBURG, Pa. – To help counter the dire personal finance situation among many consumers, including an average credit card debt of nearly $8,000 per household, the House of Representatives passed a resolution on Tuesday, April 17, decreeing April Financial Literacy Month in Pennsylvania. Legislators are calling on members of Pennsylvania Institute of Certified Public Accountants (PICPA) to increase consumer education in this area.

Rep. John Maher (R – 40), a CPA and a member of PICPA, is the resolution’s main sponsor. In an act of solidarity on this issue, 68 legislators co-sponsored the bill.

The resolution coincides with the ongoing Feed the Pig program, a national public service campaign by the Ad Council and the CPA profession that encourages young Americans to take control of their finances. Americans are spending $1.22 for every $1 they earn, and the House states in its resolution, “Many young people fail in the management of their first consumer credit experience, establish bad financial   management habits, and stumble financially, learning by trial and error.”

Tips for taking control of your finances can be found on Feed the Pig’s Web site www.FeedthePig.org.

Founded in 1897, the Pennsylvania Institute of Certified Public Accountants is a professional association of more than 19,000 CPAs who work in public accounting, industry, government, and education. PICPA is the second-oldest state CPA organization in the United States. To find a member CPA in your area, visit our Web site at www.picpa.org and click on CPA Locator. Students and educators can visit PICPA's specially designed site www.CPAzone.org to get the latest information about careers in accounting and the CPA profession.