Delaware House Bill HCR6

Delaware 2023-2024 Regular Session

• Introduced: 1/25/23
• Engrossed: 1/25/23

Caption

Recognizing Delaware Saves Week 2023.

Impact

The resolution emphasizes the need for initiatives that expand retirement plan access, urging Delawareans to take actionable steps towards improving their financial situation. These actions include opening retirement or savings accounts, establishing emergency funds, and creating personal budgets. By encouraging community engagement in financial wellness, the resolution seeks to foster a culture of saving which can lead to enhanced financial stability among residents.

Summary

HCR6 acknowledges the importance of personal and household savings for the stability and well-being of Delaware residents. It identifies a significant concern that a large portion of American families, particularly those with below-average incomes, lack sufficient retirement accounts. Moreover, the resolution brings attention to the alarming statistics around unbanked individuals and lack of access to employer-sponsored retirement plans, particularly among minority communities. The declaration of Delaware Saves Week promotes active engagement from the public in financial planning and saving efforts.

Sentiment

Overall, the sentiment surrounding HCR6 appears positive, with lawmakers hopeful that the resolution will lead to greater financial awareness and action among Delaware residents. It embraces a proactive approach to financial security in the aftermath of economic challenges posed by the COVID-19 pandemic. The bipartisan support illustrated by the sponsorship of both Democratic and Republican representatives indicates a shared commitment to improving the financial futures of their constituents.

Contention

While HCR6 is primarily a resolution aimed at raising awareness, there may be broader discussions on how to effectively implement initiatives that facilitate access to savings and retirement options. Notably, the resolution ties into national campaigns like America Saves, suggesting that there could be contention regarding state versus federal involvement in financial education and resources. Discussions surrounding these topics could reveal differing views on the extent of government responsibility in ensuring financial literacy and support among citizens.