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HR 8340 119th Congress House Government Operations and Politics Accounting and auditing Budget process Congressional oversight Executive agency funding and structure Federal officials Performance measurement

Taxpayer Funds Oversight and Accountability Act

Introduced: April 21, 2026 Introduced by: Min, Dave Democratic · California See on congress.gov
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 Everywhere this bill has been 13 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 11, 2026
Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Jun 10, 2026 · 4:34 PM EDT
Considered as unfinished business. (consideration: CR H4079)
Jun 10, 2026 · 4:35 PM EDT
Motion to reconsider laid on the table Agreed to without objection.
Jun 10, 2026 · 4:35 PM EDT
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Jun 10, 2026 · 4:35 PM EDT
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Jun 8, 2026 · 3:06 PM EDT
Considered under suspension of the rules. (consideration: CR H3931-3933; text: CR H3931-3932)
Jun 8, 2026 · 3:06 PM EDT
DEBATE - The House proceeded with forty minutes of debate on H.R. 8340.
Jun 8, 2026 · 3:11 PM EDT
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 The point of no quorum was considered as withdrawn.
Jun 8, 2026 · 3:06 PM EDT
Mr. Gill (TX) moved to suspend the rules and pass the bill, as amended.
Apr 29, 2026
Ordered to be Reported (Amended) by the Yeas and Nays: 40 - 0.
Apr 29, 2026
Committee Consideration and Mark-up Session Held
Apr 16, 2026
Introduced in House
Apr 16, 2026
Referred to the House Committee on Oversight and Government Reform.
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 Plain-English summary Congressional Research Service

Taxpayer Funds Oversight and Accountability Act
 
This bill requires the Office of Management and Budget (OMB) to take certain actions to improve financial management systems across the federal government and expands the responsibilities of federal agency Chief Financial Officers (CFOs).
 
The bill requires OMB to submit a four-year governmentwide financial management plan to Congress within 12 months of enactment and thereafter with the budget submitted in the first full fiscal year following the start of a presidential term. Such plans must address certain topics, including strategies for (1) improving financial management systems; (2) strengthening the financial management workforce; and (3) reporting performance and cost information. OMB must annually submit related status reports to Congress and the Government Accountability Office (GAO). 
 
Each agency CFO is assigned new responsibilities, including

  • preparing the agency plan to implement OMB's governmentwide financial management plan;
  • overseeing and, unless otherwise specified in law, providing leadership in the areas of budget formulation and execution, planning and performance, risk management, internal controls, financial systems, accounting, and other areas designated by OMB;
  • coordinating with relevant senior agency personnel on the strategic planning, performance measurement and reporting, and risk management functions of the agency;
  • managing the formulation and financial execution of the agency budget;
  • coordinating with the responsible agency official to ensure performance and cost information are linked; and
  • preparing annual reports on progress in implementing the governmentwide financial management plan and transmitting such reports to the agency head, OMB, GAO, and Congress.
What's happening now June 11, 2026

Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

 Hearings & markups 1
 Related & companion bills 1
  • HR 1558 Related bill Taxpayer Funds Oversight and Accountability Act
 Bill text 3 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 1 Republican 2
D
Norton, Eleanor Holmes
District of Columbia · Apr 21, 2026
 R
Sessions, Pete
Texas · Apr 21, 2026
 R
Timmons, William R.
South Carolina · Apr 16, 2026
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 8340: Taxpayer Funds Oversight and Accountability Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-8340/
MLA
"H.R. 8340: Taxpayer Funds Oversight and Accountability Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-8340/.
Bluebook (legal)
H.R. 8340, 119th Cong. (2026), https://openamerica.io/bill/119-HR-8340/.
Markdown link
[H.R. 8340: Taxpayer Funds Oversight and Accountability Act](https://openamerica.io/bill/119-HR-8340/)
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