RECEIPTS Act

Senate Bill

S. 3902

119th Congress

RECEIPTS Act

In Committee

Introduced:Feb 24, 2026

Primary Sponsor

Sponsor information unavailable

Cosponsors

0

Quick Stats

Summary

This bill requires the Department of Defense to produce financial statements that can be properly audited. It aims to improve how the Pentagon tracks and reports its spending so that independent auditors can verify the accuracy of its financial records.

Latest Action

Read twice and referred to the Committee on Armed Services.

Introduced2/24/2026

StatusRead twice and referred to the Committee on Armed Services.

ChamberSenate

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Vote Prediction

RECEIPTS Act

This bill requires the Department of Defense to produce financial statements that can be properly audited. It aims to improve how the Pentagon tracks and reports its spending so that independent auditors can verify the accuracy of its financial records.

Community Breakdown

Pass

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Fail

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0 predictions

This bill requires the Department of Defense to produce financial statements that can be properly audited. It aims to improve how the Pentagon tracks and reports its spending so that independent auditors can verify the accuracy of its financial records.

Bill Number: 3902
Introduced: 2/24/2026
Status: Read twice and referred to the Committee on Armed Services.

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: RECEIPTS Act
Bill Number: 3902
Sponsor: No sponsor
Status: Read twice and referred to the Committee on Armed Services.
Introduced: 2/24/2026
Summary: This bill requires the Department of Defense to produce financial statements that can be properly audited. It aims to improve how the Pentagon tracks and reports its spending so that independent auditors can verify the accuracy of its financial records.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill requires the Department of Defense to produce financial statements that can be properly audited. It aims to improve how the Pentagon tracks and reports its spending so that independent auditors can verify the accuracy of its financial records.

Last updated: 2/26/2026

Key Points

Main provisions of the bill

The bill mandates that the Department of Defense create financial statements that meet auditing standards.
It addresses longstanding concerns about the Pentagon's ability to account for its spending and assets.
The legislation seeks to increase transparency and accountability in how the Defense Department manages taxpayer dollars.
Auditable financial statements would allow independent reviewers to verify that the Pentagon's financial records are accurate and complete.

How This Impacts Americans

Potential effects on citizens and communities

This bill primarily affects the Department of Defense by requiring it to meet financial reporting standards that other federal agencies must follow. Taxpayers would benefit from increased transparency about how defense spending is tracked and managed. The changes could also impact defense contractors and military operations if new accounting requirements lead to changes in how the Pentagon conducts business.

Policy Areas

No policy areas assigned yet.

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

3902, 119th Congress (2026). "RECEIPTS Act". Source: Voter's Right Platform. https://votersright.org/bills/119-s-3902

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