Johnson Introduces Bipartisan Bill to Improve Military Financial Literacy
WASHINGTON, DC — Congresswoman Julie Johnson (TX-32), alongside Congresswoman Jen Kiggans (VA-02), introduced the bipartisan Military Financial Literacy Accountability Act to give servicemembers the financial tools they need to protect their paychecks, plan for their futures, and avoid predatory practices.
“Our servicemembers and their families put their lives on the line for our country, and the least we can do is ensure they have the financial tools to set themselves up for success,” said Johnson. “Passing the Military Financial Literacy Accountability Act will be key to achieving that goal. This critical legislation strengthens financial education, promotes transparency, and helps protect servicemembers and their families from being taken advantage of as they work to build their own futures. This bipartisan bill is about honoring their service with real support and long-term financial security."
“After years of hearing directly from servicemembers, veterans, and military families, it’s clear that financial literacy is a key issue,” said Congresswoman Kiggans (VA-02). “Too many military families face unnecessary stress because financial education is inconsistent or hard to access. The Military Financial Literacy Accountability Act brings clarity and accountability by streamlining responsibility at the Department of War, improving how financial education is delivered, and ensuring outcomes are measured and tracked. I’m grateful to Rep. Julie Johnson for leading this effort and for her commitment to giving our servicemembers the tools they need to build financial stability and focus on serving our nation.”
Specifically, the legislation directs the Department of Defense to:
Streamline responsibility for military financial literacy under the Secretary;
Identify preferred methods of financial education delivery for servicemembers, barriers to participation in existing programs, and opportunities for improvement;
Ensure tracking of financial readiness common military training completion and addressing causes of non-completion;
Establish timelines and metrics for financial education efforts; and
Submit to Congress an implementation strategy.
The bill has been endorsed by the American Legion and the Wounded Warrior Project.
“On behalf of our 1.5 million members, The American Legion is proud to support the Military Financial Literacy Accountability Act,” said Dan Wiley, National Commander of The American Legion. “Strong financial education is essential to the well-being of our servicemembers, and when financial stress goes unaddressed, it can undermine overall military readiness. This legislation ensures the Department of Defense is accountable for providing the tools and training our servicemembers need to manage their financial responsibilities. The American Legion remains committed to advocating for policies that strengthen the readiness and quality of life of those who serve. We thank Congresswoman Johnson for her leadership in advancing this important legislation.”
“Nearly 70% of the Warriors we serve report that financial strain related to their military service affects their quality of life,” said Wounded Warrior Project Vice President of Government and Community Relations Jose Ramos. “That's why Wounded Warrior Project supports the Military Financial Literacy Accountability Act and applauds Rep. Julie Johnson for her leadership in advancing military financial literacy and putting Service Members and their families first. By reflecting the real experiences of service members, this legislation provides practical financial education that can strengthen financial stability and improve overall quality of life.”
To read the full text of the legislation, click here.
Congresswoman Julie Johnson represents Texas’s 32nd Congressional District in the United States House of Representatives, serving on the Homeland Security Committee, Foreign Affairs Committee, and the House Administration Committee. Her district includes parts of Collin, Dallas, and Denton Counties.
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