The 2003 Stephen L. Jackstadt Award was presented to U.S. Senator Daniel K. Akaka at a very special award dinner held on May 28, 2003 at the Kahala Mandarin Oriental Hotel. 270 guests attended the event to honor Senator Akaka for his outstanding support of economic education and to support the Hawaii Council on Economic Education. Dr. Robert F. Duvall, President and CEO of the National Council on Economic Education also presented the Senator with a plaque thanking him for his continued efforts on behalf of economic literacy. See photos of the event.

Senator Akaka is a leading advocate for economic and financial literacy. On August 4, 1999, Senator Akaka, in response to the sobering state of economic illiteracy as represented in a Parade Magazine article featuring a National Council on Economic Education study, introduced the Excellence in Economic Education Act (EEE Act). The EEE Act passed in December 2001 as a part of the No Child Left Behind Act.

Senator Akaka is currently pushing for FY 2004 full funding of the EEE Act at $10 million. A competitive grant will be awarded to a national nonprofit educational organization to improve student understanding about economic and financial literacy in classrooms throughout the nation. The organization will distribute 75 percent of funds to state and local partnerships for teacher training, assistance to school districts desiring to incorporate economics and personal finance into curricula, evaluations of the impact of economic and financial literacy education on students, related research, and school-based student activities.

On February 5, 2003, Senator Akaka introduced a resolution designating April of this year as Financial Literacy for Youth Month. The resolution passed by unanimous consent on March 26, 2003.

Senator Akaka plans to continue to expand his efforts in economic and financial literacy to reach as many constituencies as possible, including college students, military families, low-income families, senior citizens and immigrants.

Special Thanks