Bill · S. 3902· Senate(119-S-3902)
RECEIPTS Act
- Introduced
- 2/24/2026
- Last activity
- 2/24/2026 — Read twice and referred to the Committee on Armed Services.
- Sponsored by
- Joni Ernst
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, known as the "RECEIPTS Act," aims to ensure the Department of Defense achieves auditable financial statements. It establishes incentives for the Department to obtain an unqualified audit opinion by increasing financial reprogramming authority for the Secretary and military departments. If the Department fails to meet these audit goals by the end of fiscal year 2028, the bill imposes stricter job qualifications for high-level financial officials. Additionally, it mandates the transfer of certain non-defense services away from the Defense Finance and Accounting Service (DFAS) if audits are not successful. The Act also provides funding for automation and artificial intelligence to assist in the auditing process. Finally, it creates a new Audit Committee to oversee the financial statement process.
Yes· 3 of 4
Does this make what the government does easier for the public to see?+6
The bill mandates auditable financial statements to increase transparency in DoD spending.
Does this make the government pay for what it commits to?+5
The bill mandates higher standards of financial accountability and transparency for the DoD.
Does this reduce what the federal government owes?+1
The bill aims to prevent fraud, waste, and abuse through better financial oversight.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Increased Financial Control and Accountability: By requiring the Department of Defense to obtain unqualified audit opinions, the bill seeks to ensure the Department can better control costs, ensure accountability, and prevent fraud, waste, and abuse (Section 2, Findings).
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Expanded Financial Flexibility for Successful Audits: If the Department achieves an unqualified opinion after 2028, the Secretary of Defense receives greater authority to transfer funds, and military departments receive higher thresholds for reprogramming funds without prior notice to Congress (Section 3).
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Stronger Leadership Standards: In the event of a failure to achieve a clean audit by 2028, the bill mandates that high-level financial officials, such as the Under Secretary of Defense (Comptroller) and various Assistant Secretaries, must be Certified Public Accountants (CPAs) with experience in agencies or companies that have successfully passed audits (Section 5).
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Modernization through Technology: The bill authorizes $300,000,000 to be used for deploying automation, artificial intelligence, and replacing business systems to improve the accuracy and speed of financial statements (Section 8).
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Improved Oversight: The establishment of an Audit Committee provides a new layer of oversight for selecting and monitoring the audit of financial statements by independent external auditors (Section 9).
Potential Negative Impacts for People
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Potential Service Disruptions During Transitions: If the Department fails to achieve its audit goals, the Secretary must transfer non-defense payroll and finance services from the Defense Finance and Accounting Service (DFAS) to another government service (Section 6).
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Requirement to Terminate Existing Contracts: To offset the costs of new technological authorizations, the Secretary of Defense is required to terminate existing contracts for contractor support regarding financial statement preparation (Section 8).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Improves Fiscal Responsibility+5Reduces Government Spending+1Reduces National Debt+1
- Governance And Ideology
- Improves Government Transparency+6
- 2/24/2026
- Read twice and referred to the Committee on Armed Services.
- Introduced in Senate