mr. speaker , it is with great pleasure that i rise today to express my strong support for the bankruptcy abuse prevention and consumer protection act . 
a chinese proverb says : `` give a man a fish and you feed him for a day . 
teach a man to fish and you feed him for a lifetime. '' and that 's exactly what this bill before us today will do . 
there are many reasons to support this bankruptcy reform bill , but i want to focus on one that is important to many of my colleagues , to me and to the american people . 
we should support the bill because it contains important financial literacy provisions . 
financial literacy goes hand-in-hand with helping our citizens of all ages and walks of life to negotiate the complex world of personal finance . 
financial literacy can help americans avoid or survive bankruptcy . 
we have passed many laws that require the disclosure of the terms and conditions of the rich mix of financial products and services that are available to consumers . 
unfortunately , for too many americans , knowing the terms and conditions of financial products and services is challenging enough . 
however , understanding those terms and conditions is often an even greater challenge . 
recognizing this fact , congress included provisions in the fair and accurate credit transactions act to address the issue of financial literacy . 
the bankruptcy abuse prevention and consumer protection act , s. 256 , also contains important provisions addressing economic education and financial literacy . 
these provisions are designed to ensure that those who enter the bankruptcy system will learn the skills to more effectively manage their money in an increasingly complicated marketplace . 
before the house considers s. 256 , i want to highlight , for my colleagues , some of the bill 's important financial literacy provisions : first : the bill will facilitate educating future generations . 
it expresses the `` sense of the congress '' that personal finance curricula be developed for elementary and secondary education programs . 
if we teach our children , early-on , how to manage money , credit , and debt , they can become responsible workers , and heads of households and keep their parents out of bankruptcy court . 
second : the bill will provide for pre-filing credit counseling . 
it requires debtors , prior to filing for bankruptcy , to receive credit counseling from a nonprofit counseling agency . 
the counseling must include a budget analysis and disclosures regarding the possible impact of bankruptcy on a debtor 's credit report . 
next : the bill will provide for pre-discharge financial education , requiring debtors to complete an approved instructional course on personal financial management prior to receiving a discharge under chapter 7 or 13 . 
the bill will also include important exceptions . 
it authorizes phone and internet counseling for both the pre-filing and pre-discharge education requirements to assist debtors in rural and remote areas . 
in addition , either or both requirements may be waived if services are not available or in exigent circumstances . 
finally , the bill requires the director of the executive office for u.s. trustees to : ( 1 ) develop a financial management training curriculum and materials to educate individual debtors on how to better manage their finances ; and ( 2 ) evaluate and report to the congress on the curriculum 's efficacy . 
this will ensure that congress can evaluate the effectiveness of these financial literacy provisions in the long-term . 
last week , we passed house resolution 148 , a bill that supports the goals and ideals of financial literacy month , which is this month , april 2005 . 
h. res. 148 was co-sponsored by 82 members of this body and 409 members of this body voted for it . 
mr. speaker , the number of bankruptcies remains at a historic high -- over 1.6 million bankruptcy cases were filed in federal courts in 2004 . 
with that in mind and in the spirit of financial literacy month , i urge my colleagues to pass s. 256 , the bankruptcy abuse prevention and consumer protection act , which contains important financial literacy provisions that will provide americans with the skills needed to successfully navigate the world of personal finance . 
mr. speaker , let 's help our fellow citizens avoid bankruptcy altogether . 
`` give a man a fish and you feed him for a day . 
teach a man to fish and you feed him for a lifetime. '' vote for s. 256 . 
