Taxpayer Funds Oversight and Accountability Act

Sponsored byRep. Min, Dave [D-CA-47]CA· Introduced 16 April 2026

Open on Congress.gov

Cosponsors

Actions

Amendments

Committees

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Since introduced

Introduced

Committee

Passed Chamber

Passed Both

Enacted

Step 1 of 0

Latest action

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

11 June 2026·1 month ago

Summary

Introduced in House · Updated 4 June 2026

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.

Timeline

14 actions

Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
11 June 2026 · IntroReferral
Considered as unfinished business. (consideration: CR H4079)
10 June 2026 · Floor
Considered as unfinished business. (consideration: CR H4079)
10 June 2026 · Floor
Motion to reconsider laid on the table Agreed to without objection.
10 June 2026 · Floor
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
10 June 2026 · Floor
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
10 June 2026 · Floor
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.
8 June 2026 · Floor
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.
8 June 2026 · Floor
Considered under suspension of the rules. (consideration: CR H3931-3933; text: CR H3931-3932)
8 June 2026 · Floor
Considered under suspension of the rules.
8 June 2026 · Floor
Mr. Gill (TX) moved to suspend the rules and pass the bill, as amended.
8 June 2026 · Floor
Mr. Gill (TX) moved to suspend the rules and pass the bill, as amended.
8 June 2026 · Floor
DEBATE - The House proceeded with forty minutes of debate on H.R. 8340.
8 June 2026 · Floor
DEBATE - The House proceeded with forty minutes of debate on H.R. 8340.
8 June 2026 · Floor
Mr. Gill (TX) moved to suspend the rules and pass the bill, as amended.
8 June 2026 · Floor
Ordered to be Reported (Amended) by the Yeas and Nays: 40 - 0.
29 April 2026 · Committee
Committee Consideration and Mark-up Session Held
29 April 2026 · Committee
Committee Consideration and Mark-up Session Held
29 April 2026 · Committee
Committee Consideration and Mark-up Session Held
29 April 2026 · Committee
Committee Consideration and Mark-up Session Held
29 April 2026 · Committee

Sponsorship

3 cosponsors

Sponsor

Rep. Min, Dave [D-CA-47]CA

Cosponsors

Democrat133%
Republican267%

Republican:Rep. Sessions, Pete [R-TX-17]TX
Democrat:Del. Norton, Eleanor Holmes [D-DC-At Large]DC
Republican:Rep. Timmons, William R. [R-SC-4]SC

Classification

Policy area

Government Operations and Politics

Legislative subjects

Accounting and auditingBudget processCongressional oversightExecutive agency funding and structureFederal officialsPerformance measurement

Committees

Oversight and Government Reform Committee
House · Standing
- Referred To16 Apr 2026
- Markup By29 Apr 2026
Homeland Security and Governmental Affairs Committee
Senate · Standing
- Referred To11 Jun 2026

Cosponsor momentum

Cumulative over time

Track Taxpayer Funds Oversight and Accountability Act as it moves through Congress