Bill · H.R. 8340· House(119-HR-8340)
Taxpayer Funds Oversight and Accountability Act
- Introduced
- 4/16/2026
- Last activity
- 6/11/2026 — Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
- Sponsored by
- Dave Min
- Cosponsors
- - 1 - 2
- Introduced
- Passed House
- In Senate committee
What this bill would do
The Taxpayer Funds Oversight and Accountability Act modifies the governmentwide financial management plan. It updates the duties of agency Chief Financial Officers to include overseeing internal controls for financial reporting. The bill changes the governmentwide financial management plan from a 5-year to a 4-year cycle. It also requires agencies to prepare specific agency plans to implement the governmentwide plan. Additionally, the Act modifies how financial management status reports are submitted and what they must contain.
Yes· 3 of 5
Does this make what the government does easier for the public to see?+6
The bill requires agency plans and status reports to be made public to increase oversight.
Does this make the government pay for what it commits to?+5
The bill strengthens financial oversight by requiring agency CFOs to lead internal controls and implement agency-specific financial management plans.
Would households on low incomes be better off under this?+2
The bill includes strategies for joint fraud prevention to protect federal funds used for public assistance.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Transparency: The bill requires that agency plans be "made publicly available" (Section 2(a)(6)(D)). This allows the public to see how their agencies are managing money.
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Better Oversight of Funds: Chief Financial Officers are given the duty to "oversee and provide leadership over the design, implementation, and operation of the internal controls of the agency over financial reporting" (Section 2(a)(1)(5)). This can help ensure money is handled correctly.
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Improved Data Sharing: The governmentwide financial management plan will include "strategies for enabling data sharing" (Section 2(b)(1)(A)(ii)) and "identifying opportunities for agencies to share systems and services" (Section 2(b)(1)(B)(ii)(III)). This can lead to more efficient government operations.
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Fraud Prevention: The plan will include "strategies for... joint fraud prevention initiatives with State... and local governments" (Section 2(b)(1)(A)(ii)). This can help protect federal funds from being misused.
Potential Negative Impacts for People
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Increased Administrative Requirements: Agency heads are now required to "annually assess and make a conclusion on the effectiveness of the internal controls of the executive agency" (Section 2(b)(1)(e)(2)). This adds a regular assessment task to agency responsibilities.
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New Planning Obligations: Chief Financial Officers must now "prepare... an agency plan to implement the 4-year financial management plan" (Section 2(a)(1)(6)). This requires agencies to develop specific, metrics-based plans within 120 days of a governmentwide plan issuance.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Governance And Ideology
- Improves Government Transparency+6Improves Electoral Process+1
- Economy And Finance
- Improves Fiscal Responsibility+5
- Demographic And Interest Groups
- Good For Low Income Households+2
- Social Issues And Justice
- Improves Poverty Reduction+2
- 6/11/2026
- Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
- 6/10/2026
- Motion to reconsider laid on the table Agreed to without objection.
- Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
- Considered as unfinished business. (consideration: CR H4079)
- 6/8/2026
- At the conclusion of debate, the chair put the question on the motion to suspend the rules. Mr. Gill (TX) objected to the vote on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was considered as withdrawn.
- DEBATE - The House proceeded with forty minutes of debate on H.R. 8340.
- Considered under suspension of the rules. (consideration: CR H3931-3933; text: CR H3931-3932)
- Mr. Gill (TX) moved to suspend the rules and pass the bill, as amended.
- 4/29/2026
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 40 - 0.
- 4/21/2026
- 2 Cosponsors added.
- 4/16/2026
- Referred to the House Committee on Oversight and Government Reform.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Eleanor NortonDemocrat · District of Columbia
Pete SessionsRepublican · Texas
William TimmonsRepublican · South Carolina