HR 8340
Passed a chamber
Modifies federal agency chief financial officer duties and replaces the governmentwide 5-year financial management plan with a 4-year plan.
Official title: Taxpayer Funds Oversight and Accountability Act
Timeline each lane is a chamber; dates pull from congress.gov actions
House
Introduced
16-APR-2026
Referred
16-APR-2026
Approved by committee
29-APR-2026
Passed
10-JUN-2026
Senate
Received
11-JUN-2026
- Changes the governmentwide financial management plan from 5 years to 4 years and requires it to include financial management metrics
- Requires each agency to prepare its own financial management plan within 120 days after the governmentwide plan is issued, and to make it publicly available
- Expands agency chief financial officer duties to include internal controls over financial reporting and linking performance and cost information
- Provides that an agency's Deputy Chief Financial Officer serves as acting Chief Financial Officer when that position is vacant
Covers an older version. The newest CRS summary describes the bill as of "Introduced in House" (16-APR-2026); the text has changed since (Engrossed in House, 10-JUN-2026).
CRS is the Library of Congress's nonpartisan research office. Read it on congress.gov- Oversight and Government Reform Committee (House)
- Homeland Security and Governmental Affairs Committee (Senate)
Government Operations and Politics
■ 2 R■ 1 D
2 Republicans
1 Democrat