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STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS
By Ms. COLLINS (for herself and Ms. Rosen):
S. 3398. A bill to amend the Student Support and Academic Enrichment Grant program to promote career awareness in accounting as part of a well-rounded STEM educational experience; to the Committee on Health, Education, Labor, and Pensions.
Ms. COLLINS. Mr. President, I rise to introduce the STEM Education in Accounting Act with my colleague Senator Rosen. Our bill would recognize accounting as part of a well-rounded STEM education and allow school districts to use their Federal education block grant resources to develop and improve instruction in accounting. It also aims to introduce more students to accounting and improve career awareness and workforce diversity in the field. In today's rapidly changing world, improving students' access to a STEM-based curriculum is increasingly vital to ensure they are prepared to succeed in the 21st-century workforce.
Mathematics--the ``M'' in ``STEM''--is a critical skill that can help students unlock countless doors to high-paying, in-demand fields. One of those doors leads to the accounting profession, whose work has a direct impact on employers, employees, retirees, investors, and the global economy. Certified professional accountants, or CPAs, play a key role in providing capital markets with confidence in financial reporting. Modern accounting increasingly requires cutting-edge math and technology skills, including IT auditing, artificial intelligence, data analytics, and cyber security, to keep up with the market's needs.
Under the Every Student Succeeds Act, which is current law, school districts may use funds from the Student Support and Academic Enrichment Program to support a host of curricular and extracurricular activities that deliver a well-rounded education to students in all grade levels. Specifically, the STEM Education in Accounting Act would add ``activities to promote the development, implementation, and strengthening of programs to teach accounting'' to the list of courses and activities supported by this flexible block grant. Our bill would also promote high-quality accounting instruction for members of groups underrepresented in the accounting profession.
Encouraging a robust pipeline of future accounting professionals is paramount. I encourage my colleagues to join us in supporting this bill to promote accounting education, improve students' finance skills, and strengthen the pipeline of future accountants, who play such a vital role in our financial system.
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SOURCE: Congressional Record Vol. 167, No. 216
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