Financial Literacy, Rehabbing Abandoned Homes in Indy and Protecting Teacher Jobs -- September 10, 2010

In the midst of the worst economic downturn in decades, there has never been a better time for young people to improve their understanding of personal finance. That's why I hosted a discussion about financial literacy with local community members, students and business leaders. We met earlier this week at Arsenal Tech High School, where I had the pleasure of meeting with students who have completed the financial literacy course offered at their school. In addition to learning the basics of personal finance, including how to balance a checkbook and understand the terms of a car loan or home mortgage, these students received on-the-job training by working at a full-service credit union located on the Arsenal Tech campus. This event provided a great opportunity for these students and financial leaders to learn from each other and improve financial literacy in our communities.

This week I was pleased to hear that Indianapolis will be receiving $8 million to fight the problem of abandoned properties across the 7th District. With these funds from the Department of Housing and Urban Development (HUD), the City of Indianapolis will be able to acquire, redevelop or demolish foreclosed properties, while creating jobs right here in our communities.

Today, too many neighborhoods in Indianapolis continue to struggle with mounting foreclosures and high unemployment. That's why I worked so hard with my colleagues in the Congressional Black Caucus to secure this funding in the final Dodd-Frank Wall Street Reform and Consumer Protection Act. Important provisions in this bill are already at work around the country-creating jobs, protecting consumers and helping to put our economy on the path towards sustained, long-term growth. This HUD grant is one of the many ways in which local residents will benefit from this landmark bill.

This funding is in addition to $29 million I secured in 2008 that is currently being put to work demolishing abandoned houses and redeveloping properties in five targeted neighborhoods across Indianapolis as part of a program managed by the city.

For a complete listing of the allocations announced today, visit HUD's website here.

Indiana received $207 million from the Department of Education this week-saving 3,600 teaching jobs across the state. These funds were allocated by the Education Jobs and Medicaid Assistance Act, which I supported in August. While our schools are forced to take drastic measures due to budget cuts, these funds are helping to bridge that gap, giving schools the financial support they so desperately need. These funds are vital for our education system as it will keep teachers where they are needed most-in the classrooms. Hoosier educators who perform well should know that their jobs are safe and their careers in education have a long, promising future. These funds will help teachers focus less on uncertainties related to budget cuts and more on educating our children each and every day.

Thank you for reading the Carson Courier. Please do not hesitate to contact me with your thoughts and concerns. For more information, please visit my website at https://www.carson.house.gov and my new Congressional Facebook page at https://www.facebook.com/CongressmanAndreCarson. I value your views and your input which help me to better represent the people of Indiana's 7th District in Congress.