AICPA supports Accounting STEM Pursuit Act legislation

Two senators have introduced the Accounting STEM Pursuit Act, which would establish the accounting profession as a science, technology, engineering, and math (STEM) career pathway, allowing students greater access to accounting programs.

The bill, introduced Thursday by Sens. Susan Collins, R-Maine, and Jacky Rosen, D-Nev., also would amend the Every Student Succeeds Act to allow K-12 grant funding to be used for accounting education programs.

“Accounting is a technology-powered profession, and STEM recognition simply reflects today’s reality,” Mark Koziel, CPA, CGMA, president and CEO of the AICPA, said in a news release. “Accounting today sits at the intersection of data, technology, and critical thinking — and that’s exactly what STEM is all about. Recognizing accounting as a STEM pathway will help schools introduce these skills earlier, expand access for students in every community, and build a stronger pipeline of future CPAs and finance leaders. This is a practical step to ensure the profession continues to serve the public interest and power economic growth in an increasingly digital world.”

Identical legislation was introduced in the House last spring by Reps. Young Kim, R-Calif., and Haley Stevens, D-Mich.

The Accounting STEM Pursuit Act would add accounting education to the list of allowable uses under the Student Support and Academic Enrichment Grant program, a key funding stream for states to expand educational opportunities in public schools.

The AICPA has long advocated for the designation for the accounting profession, and a recent survey conducted by The Harris Poll on behalf of the AICPA revealed that 74% of Americans believe accounting courses should receive the STEM designation.

“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,” Koziel said.

— To comment on this article or to suggest an idea for another article, contact Bryan Strickland at Bryan.Strickland@aicpa-cima.com.