Eight CPAs In The New House of U.S. Representatives

According to  Big4.com, this mid-term election puts eight Certified Public Accountants to the august U.S. House of Representatives.

The AICPA indicates that all five CPAs won their re-election bids and three additional CPAs were added to the House. The returning CPAs were:

Republicans: John Campbell of California; Michael Conaway of Texas, and Lynn Jenkins of Kansas

Democrats: Collin Peterson of Minnesota and Brad Sherman of California

And there are three new CPAs: Steven Palazzo, a Mississippi Republican, defeated 11-term Democratic Rep. Gene Taylor in that state’s 4th District.

Jim Renacci, an Ohio Republican, defeated freshman Democratic Rep. John Boccieri in that state’s 16th District.

Bill Flores, a Republican, defeated veteran Democratic Rep. Chet Edwards in Texas’ 17th District.

Two of the eight were Big Four alumni.

The AICPA also noted that the Senate Finance Committee is expected to keep Sen. Max Baucus, a Montana Democrat as chairman. The current ranking member, Iowa Republican Sen. Chuck Grassley, having easily won re-election, is expected to become the ranking member on the Judiciary Committee.

Importantly says the AICPA, Baucus and Grassley are champions of the accounting profession’s effort to ban tax strategy patents, and their positions on Finance and Judiciary will remain very helpful to moving that legislation forward.