In a letter to Representatives Andy Barr (R-KY) and Scott Peters (D-CA), the American Institute of CPAs (AICPA) reaffirmed its strong, long-standing support of H.R. 7026, the Fiscal State of the Nation Act, which would provide for an annual presentation by the Comptroller of the United States to budget committees from both chambers of Congress regarding the audited financial statement of the executive branch.
This bipartisan legislation will promote greater fiscal transparency and help key policymakers focus on some of the most important aspects of the consolidated financial statements, including financial and sustainability measures.
A 2025 survey conducted by The Harris Poll on behalf of the AICPA demonstrated that Americans want Congress to have the best information when making important fiscal decisions for our country. According to the survey, 81 percent of Americans agree they would support an annual report to Congress provided by the U.S. Comptroller on the audited financial statements of the nation, with 38 percent indicated they strongly agree.
The letter expresses the organization’s support for this legislation, saying,
“Our nation’s fiscal health is essential to sustaining long-term economic strength and national stability. The Fiscal State of the Nation Act represents a critical step towards greater transparency, providing a deeper understanding of the long-term economic impact of current and future policies.
As shown by the survey results, a significant majority of Americans are concerned with the nation’s fiscal health affecting future generations and would support this transparency measure. By requiring an annual report on the federal government’s consolidated financial statements to Congress, this legislation ensures that policymakers have the information needed to make sound decisions for our country’s future.
This legislation represents a critical step in moving our federal government forward as it relates to financial accountability and transparency, with the aim of improving congressional decision making on important fiscal issues.”
The AICPA is committed to promoting strong fiscal stewardship and ensuring that lawmakers have access to clear, reliable financial information. By advancing policies that strengthen transparency and education, we help support a more informed budget process and a more secure fiscal future for our nation.
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Tags: balanced budget, budget, finances, government spending
