Congress·In Progress·H.R. 1558

Taxpayer Funds Oversight and Accountability Act

Congress targets tighter federal spending controls with new CFO duties, audits, and public plans

Sep 15, 2025·View on Congress.gov·Read full text

StalledNext up: A house committeeNo action in 10 months

This bill is currently sitting in the House Committee on Oversight and Government Reform. It is considered stalled because no action has been taken on it since December 2024. The committee must review the bill before it can move forward, but most bills like this never receive a vote.

Legislative Progress

House

No action since September 2025

Senate

President

Law

Key Points

Makes agency Chief Financial Officers responsible for stronger oversight of budgets, internal controls, and financial systems.
Requires each agency to create a financial management plan within 90 days after a governmentwide plan is issued, use clear performance metrics, and post the plan publicly.
Directs the Office of Management and Budget to switch to a 4-year governmentwide financial management plan and send regular status reports to Congress with audit and compliance summaries.
Adds new expectations for agency financial statements and for linking program results with what programs cost, aiming to help leaders make better spending decisions.
Strengthens audits by requiring auditors to check whether key financial controls are well designed, actually in place, and working—and to report problems they find.

EconomyConsumer Protection

Impact Analysis

Personal Impact

How this policy affects specific groups of people

Mixed Impacts(1)

Federal Employee

Neutral

Milestones

3 milestones3 actions

Sep 15, 2025House

ASSUMING FIRST SPONSORSHIP - Mr. Min asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 1558, a bill originally introduced by Representative Connolly, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.

Feb 25, 2025House

Referred to the House Committee on Oversight and Government Reform.

Feb 25, 2025

Introduced in House

The bill was officially filed and given a number. It now enters the legislative queue.

No votes or news coverage recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

Taxpayer Funds Oversight and Accountability Act

Bill NumberHR 1558

Congress119th Congress

ChamberHouse of Representatives

Latest ActionASSUMING FIRST SPONSORSHIP - Mr. Min asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 1558, a bill originally introduced by Representative Connolly, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.