U.S. Senators Susan Collins (R-ME) and Jacky Rosen (D-NV) have introduced the bipartisan Accounting STEM Pursuit Act, aiming to address workforce shortages in the accounting profession by increasing exposure to accounting careers for K–12 students. The bill seeks to recognize accounting as a Science, Technology, Engineering, and Mathematics (STEM) field and promote high-quality education programs related to the profession.
The need for such measures comes as fewer students are pursuing accounting degrees than in previous years. According to the Bureau of Labor Statistics, there are projected to be about 124,000 job openings nationwide each year for accountants and auditors over the next decade.
Senator Collins emphasized the importance of mathematics and technology skills for students’ career opportunities: “Mathematics and technology skills can help students unlock countless doors to high-paying, in-demand fields. One of those doors leads to the accounting profession, whose work plays a key role in providing capital markets with confidence and assurance in financial reporting,” said Senator Collins. “Our bipartisan bill would recognize accounting as a STEM subject and strengthen the pipeline of future accountants, who play a vital role in our financial system.”
Senator Rosen noted that early exposure is crucial for career awareness: “Students don’t always know what career paths are out there until they’re exposed to different options in the classroom,” said Senator Rosen. “By recognizing the accounting profession as a valuable STEM career pathway, we can help promote and expand access to high-quality accounting education programs and make sure the next generation is ready to fill good-paying accounting jobs.”
Mark Koziel, President & CEO of the American Institute of Certified Public Accountants (AICPA), also voiced support: “Designating accounting as a STEM pathway acknowledges how deeply technology and analytics are embedded in the work accountants do every day,” said Koziel. “It will help expose students to the profession, strengthening workforce development in the accounting profession and improving access for more students. We thank Senators Collins and Rosen for their efforts to have accounting designated as a STEM curriculum and urge Congress to move this legislation forward.”
If passed, the bill would amend existing federal law—the Every Student Succeeds Act—to allow K-12 grant funding for new or expanded accounting education programs. It would also focus on encouraging participation from groups currently underrepresented in accounting careers.
The full text of the proposed legislation is available online.