While the intentions were good, the odds were against a bill to add a financial literacy course to high school graduation requirements. A legislative deadline killed the proposal when it was in its fourth committee.Very possibly, the motives were political and had nothing to do with the bill itself. The Senate approved the bill 51-0 on Feb. 11 after both the Education and Appropriations committees signed off on it.In the House, the bill got sent to the Education and Appropriations committees as well. Education approved it, but it died in the Appropriations Committee on March 4.Bills originating in one chamber often fail to advance in the other. That’s just the way it goes. But this year, the House is trying to strong-arm the Senate into going along with its income tax elimination proposal that also may increase gasoline taxes. One way to flex the muscles is to kill legislation from the other side.There’s no doubt that the financial literacy proposal was one of many Senate-approved bills that died in the House — while many bills from the House met the same fate in the Senate. These bill aren’t always part of a grand strategy; usually there’s just not enough time to consider everything on the list, so committee chairmen and other leaders have to decide which issues get priority.As sports fans say, there’s always next year. Even so, it’s worth looking at the financial literacy bill, which contains some good ideas. But there were a couple of caution flags as well.First, there’s no doubt that too many 18-year-olds know too little about money: How to spend less than you have; how to avoid taking on too much debt through credit card purchases or loans; how to get yourself out of financial trouble and stay out of it; and how to save money regularly without living like a hermit.If a financial literacy course in public schools would help even a few graduates each year understand a little more about money, spending and borrowing, it would avoid some hardship down the road. It would be a good investment of the state’s tax dollars.The bill that died in the House would have added financial literacy to the curriculum in grades 6 through 8. And beginning with the Class of 2031, each student, in any of their four high school years, would have to take a half-unit course in personal finance in order to receive a diploma.These are not excessive requirements, and they sound useful. However:• What if a student cannot pass the course? Should that really cost him a diploma?• While the financial literacy bill only proposed to add a small requirement to school curriculum — which may already be offered in many high schools — it is one more education requirement among many that have been building up over the decades. While once again acknowledging the merits of such a course, the question should be asked: Must schools do everything?On this topic, the answer to that might be yes. Assuming the bill doesn’t get revived, its advocates, including the entire Senate, will have to give it another try in 2026.
