Ranking Member Connolly, Oversight Democrats Introduce Legislation to Modernize Financial Management of Public Funds and Tackle Improper Payments

Washington, D.C. (February 25, 2025)—Today, Rep. Gerald E. Connolly, Ranking Member of the Committee on Oversight and Government Reform, and Committee Democrats introduced the “Taxpayer Funds Oversight and Accountability Act” to improve and modernize decision making and financial management across the federal government through a focus on data integrity, internal processes, and agency performance.  

“Americans across the country want a government that operates at its best for them—not a government driven to chaos and incompetence by an unelected billionaire.  Today, we introduced the Taxpayer Funds Oversight and Accountability Act, a common-sense bill to ensure their taxpayer dollars are accounted for and managed efficiently using reliable, performance-based data to make well-informed decisions.  This is how reforming and improving our government should be done, through responsible and accountable legislation—not with a chainsaw,” said Ranking Member Connolly.  

The Taxpayer Funds Oversight and Accountability Act would: 

• Refocus federal agencies on stronger internal financial management controls and linking agency performance and cost data. 
• Strengthen governmentwide financial management planning. 
• Clarify agency Chief Financial Officer responsibility and accountability for strengthening financial management. 

Click here to read the one pager. 

Click here to read the bill text.