Addressing the Accountant Shortage: Legislative and State Initiatives

Classrooms across Pennsylvania, like the one photographed on May 3, 2023, face a unique challenge: a declining pipeline of future accountants. Accounting organizations and employers voice concerns over recruitment issues. The Bureau of Labor Statistics estimates approximately 124,200 accountant and auditor openings annually from 2024 to 2034, with a projected employment growth of 5% over the decade. These opportunities largely replace retiring workers or those leaving the profession rather than indicating the creation of new positions.

The dwindling number of students sitting for the CPA exam exacerbates employers’ difficulties, affecting workloads and client service levels. To tackle this issue, various states are revising certification requirements for public accountants. Texas, for example, opened a new route to CPA certification on Aug. 1, making it the latest to move away from the traditional 150-credit-hour path. Several other states are similarly loosening such requirements, and the trend is growing.

While these changes make obtaining CPA credentials easier, they do not expand the initial pool of aspiring accountants. The root issue is a federal problem needing a federal solution, which is why some Congress members introduced the bipartisan Accounting STEM Pursuit Act. This legislative initiative, first launched in the House in April 2025 by Reps. Young Kim (R-Calif.) and Haley Stevens (D-Mich.) and followed by a Senate version introduced in February 2026 by Sens. Susan Collins (R-Maine) and Jacky Rosen (D-Nev.), is currently under committee review.

The Accounting STEM Pursuit Act proposes incorporating accounting education into the existing Student Support and Academic Enrichment grants under the Every Student Succeeds Act. This grant expansion emphasizes students from groups underrepresented in accounting, allowing for the use of funds on accounting curricula, internships, and mentorship programs alongside STEM subjects.

The argument for this bill is compelling. Modern accounting involves data analytics, automated procedures, information systems, and artificial intelligence. These areas overlap with math and technology. Early accounting exposure can help bridge this connection for students who might otherwise overlook the profession as a viable career choice.

Public support is robust. A Harris Poll for the American Institute of CPAs found 74% of Americans believe accounting courses should fall under the STEM education category. Given that the proposed act does not call for new federal funding but merely reallocates existing grants, it allows schools to opt-in to providing accounting education without mandate.

The intersection of accounting and technology is undeniable. Federal policy must reflect these changes by supporting accounting instruction equivalently to STEM fields. The Accounting STEM Pursuit Act offers a practical route forward.

Jorge Lemus Encalada, associated with the University of Illinois at Urbana-Champaign, specializes in industrial organization and innovation economics. The content herein is protected under the copyright of Nexstar Media Inc. since 2026.