A bill to amend part A of title IV of the Social Security Act to require a State to promote financial education under the Temporary Assistance for Needy Families (TANF) Program and to allow financial education to count as a work activity under that program.
TANF Financial Education Promotion Act of 2005 - Amends part A (Temporary Assistance for Needy Families) (TANF) of title IV of the Social Security Act to require a State to specify in its State plan how it intends to establish goals and take action to promote financial education among parents and caretakers receiving TANF assistance through collaboration with community-based organizations, financial institutions, and the Cooperative State Research, Education, and Extension Service of the Department of Agriculture.
Defines financial education as education that promotes an understanding of consumer, economic, and personal finance concepts, including the basic principles involved with earning, budgeting, spending, saving, investing, and taxation.
Designates financial education a work activity for TANF purposes.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S4418)
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S4418-4419)
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