The AICPA is urging Congress to advance the bipartisan Fiscal State of the Nation Act, positioning the legislation as a practical step toward improving transparency around the federal government’s long-term financial condition.

“Our nation’s fiscal health is essential to sustaining long-term economic strength and national stability,” noted Mark Koziel, adding that the legislation would ensure policymakers have the information needed to make informed decisions for future generations.

The AICPA also emphasized the importance of the Government Accountability Office’s ability to audit consolidated federal financial statements and render an opinion on the government’s financial position.

Introduced by Representatives Andy Barr of Kentucky and Scott Peters of California, the bill would require the Comptroller General to deliver an annual presentation to a joint hearing of the House and Senate Budget Committees on the consolidated financial statements of the US, including key financial and sustainability measures. 

In supporting the bill, the AICPA pointed to new survey data showing strong public backing for clearer fiscal reporting.

According to a Harris Poll conducted on the AICPA’s behalf, 81% of Americans support an annual report to Congress on the nation’s audited financial statements, while 89% of registered voters believe elected officials should fully understand the federal government’s long-term obligations, including programs such as Social Security and Medicare. 

Overall, the group framed the legislation as part of a broader effort to strengthen fiscal stewardship, improve education around public finances, and support a more informed and credible budget process at the federal level.