JEFFERSON CITY, Mo. – State Sen. Jamilah Nasheed, D-St. Louis, introduced Senate Bill 993, which supports the treasurer of St. Louis authority to create the Office of Financial Empowerment. The office would be tasked with providing educational programs and counseling to the public about personal finance and other financial empowerment resources.
“Knowledge is the key to success,” said Sen. Nasheed. “If we can empower our citizens to understand and ultimately take control of their financial situation through educational programming, I believe we can create a stronger, more financially stable state in the long-run. I believe this bill is worth the investment.”
Additionally, the Office of Financial Empowerment will provide information on access to banking resources for individuals and small businesses.
“Starting a small business can be difficult. New business owners don’t have the time or expertise to sift through hundreds of pages of our complicated tax code in order to decide what is best for their business. Instead, they should be focused on improving their business, not worrying about our country’s complicated tax laws,” said Sen. Nasheed. “Senate Bill 993 provides one more resource for businesses to use in order to get ahold of the information they need in order to succeed.”
“This bill makes sure that existing financial empowerment programs continue regardless of who is in office. Empowering citizens with the tools to increase their credit scores, save for the future and make better decisions with their money is essential to improving their lives,” said St. Louis City Treasurer Tishaura Jones. “We are extremely thankful to Sen. Nasheed for sponsoring this critical legislation.”
Senate Bill 993 has been first read on the Missouri Senate floor. For more information on Sen. Nasheed’s legislative actions, visit her official Senate website athttp://www.senate.mo.gov/mem05/.