Congressmen Brad Sherman, D-Calif., and Michael Conaway, R-Texas, have formed a Bipartisan Congressional CPA Caucus that they plan to co-chair.
The Congressional CPA Caucus will serve as an informal, bipartisan group of members who are CPAs, dedicated to discussing and formulating innovative policy approaches to the issues affecting CPAs—including tax administration and compliance and accounting and auditing standards. The caucus will work to reduce the compliance burden of our tax laws. It will also seek to provide input on issues being debated by Congress on which CPAs have particular expertise – including budgeting and fiscal issues.
“Establishing the CPA Caucus allows us to educate our colleagues about the importance of the accounting profession to American business, and to share our expertise on tax administration and compliance,” said Sherman, who is a senior member of the House Financial Services Committee, in a statement. “We also hope to bring a bipartisan CPA perspective to the fiscal and budgeting issues facing Congress.”
Prior to being elected to Congress, Sherman, who represents the San Fernando Valley in Los Angeles, was a tax law specialist and CPA. He audited large business and government entities, provided tax counsel and advised small businesses on tax issues.
Conaway, an advocate for a simpler and fairer tax system, has sponsored legislation that would bring more accountability in government funding. He earned a degree in Accounting from Texas A & M University-Commerce and, before coming to Congress, worked for Price Waterhouse & Co.
“Taxpayer dollars should be spent wisely, or not at all,” he said. “It is our responsibility to revaluate the spending process in Congress. I look forward to working with our fellow CPAs in Congress to ensure a platform through which we can share our perspective, informed by our unique education and experience, with the rest of our colleagues.”
There are eight CPAs in the 112th Congress, all members of the House. In addition to Sherman and Conaway, John Campbell, R-Calif., Lynn Jenkins, R-Kan., Collin Peterson, D-Minn., are all CPAs, as are newly elected Steven Palazzo, R-Miss., James Renacci, R-Ohio, and Bill Flores, R-Texas.
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