Expressing support for the first annual America Saves Week.

Recognizes the importance of increasing the savings rate and reducing consumer indebtedness in the United States through effective social marketing campaigns.

Supports the goals and ideals of America Saves Week.

[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 204 Introduced in House (IH)]







110th CONGRESS
  1st Session
H. RES. 204

      Expressing support for the first annual America Saves Week.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 28, 2007

   Mrs. Jones of Ohio submitted the following resolution; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                               RESOLUTION


 
      Expressing support for the first annual America Saves Week.

Whereas America Saves is a 6-year old social marketing campaign in which over 
        1,000 local, state, and national organizations have motivated more than 
        65,000 people to enroll as ``American Savers'' by making a commitment to 
        save for a goal of their choice and to develop a plan to achieve this 
        goal;
Whereas, with the national savings rate consistently hovering around 0 for the 
        past 6 years, America Saves is the call to action that we must not spend 
        all, but save some, of our incomes;
Whereas, launched in 2001 with one city, Cleveland, Ohio, America Saves has now 
        53 local, state and national campaigns, including Philadelphia Saves, 
        Utah Saves, San Diego Saves, New York State Saves, Texas Saves, Kansas 
        City Saves, Milwaukee Saves, Miami Saves, Tennessee Saves, Silicon 
        Valley--South Bay Saves, Military Saves, Youth Saves, Black America 
        Saves, Hispanic Saves, and America Saves through Homeownership;
Whereas local activities are being organized in many cities and localities 
        around the country that encourage individuals to take action such as 
        opening a savings account for emergencies, participating in work place 
        retirement programs, or setting a goal such as homeownership and 
        establishing a savings account dedicated for that purpose;
Whereas America Saves has over 500 financial institutions, both banks and credit 
        unions, providing no- or low-fee, low-opening-balance savings accounts 
        that allow small savers to achieve success;
Whereas, as an example, America Saves has to date enrolled 8,700 American Savers 
        in the area of Cleveland, Ohio, alone, who have saved or reduced debt by 
        an estimated $6,000,000;
Whereas America Saves has been congratulated by Federal Reserve Board Chairman 
        Ben Bernanke upon reaching 50,000 Savers;
Whereas this first America Saves Week, February 25-March 4, 2007, is being 
        introduced as an annual event to focus all of us on the need and 
        opportunities for financial action; and
Whereas the issue of establishing emergency savings is a primary focus for this 
        introductory America Saves Week: Now, therefore, be it
    Resolved,  That the House of Representatives--
            (1) recognizes the importance of increasing the savings 
        rate and reducing consumer indebtedness in the United States 
        through effective social marketing campaigns;
            (2) supports the goals and ideals of America Saves Week; 
        and
            (3) encourages the President to issue a proclamation 
        calling upon the people of the United States to participate in 
        America Saves Week with appropriate activities.
                                 <all>