Statements on Introduced Bills and Joint Resolutions

Floor Speech

Statements on Introduced Bills and Joint Resolutions -- (Senate - November 13, 2007)

BREAK IN TRANSCRIPT

S. 2341. A bill to provide Individual Development Accounts to support foster youths who are transitioning from the foster care system; to the Committee on Health, Education, Labor, and Pensions.

Mrs. CLINTON. Mr. President, youth aging out of foster care constitute one of our Nation's most vulnerable populations. Not only do these young people carry with them histories of child abuse and neglect, but they are also often unsupported in their transition from foster care to independent living. Today, I am pleased to introduce the Focusing Investments and Resources for a Safe Transition Act or FIRST Act, a piece of legislation that will offer much needed financial assistance to young adults as they exit the child welfare system.

Research shows that youth aging out of foster care fare worse than their counterparts in the general population on a variety of social, educational, and health indicators. These youth report significantly lower levels of education and are more likely to be unemployed or homeless. Research also shows that, as they prepare to exit foster care, these young adults do not receive the independent living services necessary to support them through their transition. When it comes to guidance on educational opportunities and employment, money management and housing, resources for foster youth are simply inadequate.

These young people need our help, and they need it now. According to the most recent Federal data, over 20,000 youth age out of the foster care system each year. We must intervene in order to prevent them from experiencing the unfavorable outcomes described in the research. The FIRST Act meets this task head on by addressing the financial status of youth exiting foster care. Specifically, the legislation supports states in setting up Individual Development Accounts, or IDAs, for those preparing to age out of the child welfare system. The accounts will contain a Federal deposit on behalf of foster youth matched by public and private community partners.

Upon transitioning from foster care, and after completing money management training, the legislation permits youths to withdraw their savings to pay for necessities such as educational opportunities, vocational training, and housing--elements critical to achieving self-sufficiency. In short, with these funds, youth aging out of the child welfare system will have a financial base on which they can build self-sustaining, goal-oriented, independent lives.

A similar program is currently being piloted in my State of New York. This summer, Mayor Mike Bloomberg announced that 450 New York City foster youths will be provided IDAs through a program called Youth Financial Empowerment. Similarly, the Jim Casey Youth Opportunities Passport program has experienced success in offering IDAs to foster youth in several cities.

For years I have been encouraging Congress to take action regarding the needs of foster youth. In 2002 I introduced the Opportunity Passport Act, which, among other provisions, called for the establishment of IDAs for those aging out of the child welfare system. Since that time we have failed to make progress on this issue while youth continue to exit foster care without the resources they need. It is under these circumstances that I come forward again today to present the needs of this vulnerable group of young people. It is my hope that you will join me in putting foster youth FIRST and support this important legislation.

BREAK IN TRANSCRIPT

Source