Financial literacy legislation first filed when Sen. Rick Scott was Florida Governor was signed into law on Tuesday. Wednesday morning, Scott addressed the concept favorably before offering suggested additions of his own.
Scott, during an appearance on the Fox Business Network, was asked about SB 1054. The so-called “Dorothy L. Hukill Financial Literacy Act” compels schools to “establish specific curricular content for, at a minimum, personal financial literacy and money management” starting with students entering 9th grade in the 2023-24 school year.
The bill was named after the late Sen. Dorothy Hukill, who championed the initiative during her time on the Legislature.
Students will learn about opening bank accounts, balancing a checkbook, money management, credit scores, personal debt, loan applications, federal income taxes and different types of investments. Scott suggested learning basic accounting wouldn’t be a bad idea either.
“What I always tell everybody is you ought to take two years of bookkeeping in high school, because you really need to understand how businesses work. Because whether you’re going to build your own business, whether you’re going to work for a business, you ought to know how it works, because you’ll know where you fit in,” Scott said during an interview on the Fox Business Network Wednesday.
Pressed by host Stuart Varney to define bookkeeping, Scott said “it’s like basic accounting.”
“It’s knowing how balance sheets work and how income statements work and how cash flow statements work,” Scott explained. “Because it’s really the basis of how business works. It’s basic accounting.”
As mentioned, the financial literacy bill was a live legislative proposition for much of Scott’s time in Tallahassee. Sen. Travis Hutson, a Republican from St. Johns County, first filed his version of the legislation in 2018, in the wake of the passing of Sen. Hukill, who had filed the bill since 2014.
Hutson again sponsored the 2022 version, which Gov. Ron DeSantis has now signed into law.
March 23, 2022 at 12:18 pm
Maybe Ricky could offer a course on shady accounting? Just so the kids know how businesses work.
March 23, 2022 at 12:55 pm
Now that’s the real stuff that should be learned early
March 24, 2022 at 8:00 am
Did you know Harvard Medical School did the same thing Scott’s company was accused of? No, of course not. It was a widespread practice. Scott just did it the best/worst.
Yeah So what?
March 24, 2022 at 8:31 am
I don’t care
He probably graduated from there.
March 25, 2022 at 5:45 am
Harvard: $2,700,000, or .016% of HCA: $1,700,000,000.
‘Lock them up,’ as you guys like to say (as long as it’s not one of your own scoundrels).
Whoever was responsible in either case should have gone to jail, not the US senate.
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