Military Financial Literacy Accountability Act
Sponsored By: Representative Rep. Johnson, Julie [D-TX-32]
Introduced
Summary
Strengthens financial literacy and accountability for junior service members. This bill would expand the military's financial literacy survey and require the Defense Department to improve training tracking and deliver an implementation plan to Congress.
Show full summary
- Service members: The survey would measure current financial literacy for enlisted members in pay grade E-7 and below and officers in pay grade O-4 and below and ask how members prefer to learn, including in-person classes, online modules, mobile apps, peer programs, or counseling. It would also ask which topics members want most, such as income management, debt and credit repair, saving and investing, home buying, transition planning, insurance, tuition financing, or deployment planning.
- Department of Defense administrators: The Secretary of Defense would need to update administrative systems to track completion of the financial readiness training more accurately, identify and address causes of non-completion, and set a timeline to decide and implement any standardized performance measures.
- Oversight and planning: The Secretary must submit an implementation timeline and strategy to Congress explaining how the changes will be carried out.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
More financial training for service members
This bill would move oversight of the Defense Department’s Financial Literacy and Preparedness Survey to the Secretary of Defense. It would ask enlisted members in pay grade E-7 or below and officers in O-4 or below about their money skills. The survey would ask how members prefer learning (in person, online modules, phone apps, peer programs, counseling, and more). It would ask what money topics members want, like budgeting, debt, saving and investing, home buying, transition planning, insurance, tuition help, and deployment or relocation planning. The survey must protect respondents’ privacy. The Departments would also update systems to better track completion of required financial readiness training, find causes of non‑completion, set a timeline for performance measures, and send Congress a plan to implement these changes.
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Sponsors & CoSponsors
Sponsor
Rep. Johnson, Julie [D-TX-32]
TX • D
Cosponsors
Rep. Kiggans, Jennifer A. [R-VA-2]
VA • R
Sponsored 12/15/2025
Rep. Scott, Austin [R-GA-8]
GA • R
Sponsored 3/3/2026
Roll Call Votes
No roll call votes available for this bill.
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