Republicans in the House are turning their heads to the problems that come with credit card debt and bankruptcy by killing a bill being backed by the State Chamber of Commerce. Senate Bill 378 would have required students who graduate from an Oklahoma school to take one semester of Personal Financial Economics but was killed when House leaders refused to hear the bill in committee.

“This bill is aimed at protecting Oklahomans from falling victim to credit card debt and being forced into the bankruptcy blunder that rips apart working families throughout the country,” Lawler said.

The Senator said legislators have a responsibility to enact meaningful legislation that gives Oklahoma school children the tools necessary to make financially sound decisions. She said often times Oklahoma’s young adults are pummeled with credit card applications before the even step foot on college campuses and the results are devastating. Lawler said young adults are the fastest growing segment of the population filing bankruptcy. Her bill, she believes would have curtailed the spiraling effects that come with poor financial planning skills.

Lawler, (D-Comanche) said she is disappointed that Republican Rep. Chris Benge, Chairman of the House Appropriations and Budget Committee, refused to hear SB 378.

“The entire business community, including the State Chamber of Commerce is behind this bill and despite all the pro business endorsements for the measure Rep. Benge ignored the voice of the business community and killed it anyway.” The Senator said.

Lawler said Oklahomans continue to set record bankruptcies and rank in the top five states for most bankruptcies filed among all fifty states. She also noted that Oklahoma ranks in the top ten for credit card debt per capita.

“I simply cannot understand why House Republicans would recklessly refuse to hear a bill that would have strengthened families who are often torn apart by financial ruin.” Lawler said. “Through provisions of SB 378, we had the chance to make tomorrow better for our children by arming Oklahoma school children with the knowledge to make sound financial decisions and instead House Republicans stood by and did nothing.”

Lawler said in a week when President George W. Bush signed a bill to discourage bankruptcies, she is surprised that House Republicans in Oklahoma are ignoring the urgency to act on such a hot button issue.

“Apparently they don’t agree with President Bush that something needs to be done to combat the bankruptcy epidemic,” Lawler said. “Their reckless actions and questionable leadership style is doing nothing to help the thousands of Oklahomans who depend on us to enact meaningful legislation that will make tomorrow better for our children.”

For more information contact:
Senate Communications Office- (405) 521-5774