Why It Matters

PwC faces a critical challenge: Congress is rapidly reshaping the regulatory and tax environment that defines the accounting profession, while simultaneously creating new market opportunities in digital assets and AI.

On the defensive side, Sarbanes-Oxley faces renewed scrutiny over compliance costs, and the PCAOB narrowly survived elimination in the recently enacted tax bill. On the offensive side, major legislation creating audit mandates for stablecoins has already passed, and AI accountability standards are being shaped now.

PwC’s success depends on navigating a volatile regulatory environment where defending the status quo and capturing new opportunities require simultaneous engagement across multiple fronts.

By the Numbers

PwC US Group LLP spent $710,000 on in-house lobbying in Q3 2025, continuing a strategy focused on education, taxation, and accounting regulation. The firm employs five registered lobbyists, most with decade-plus tenures representing PwC entities.

Miguel Angel Martinez Jr. brings the most direct congressional experience—having served as Tax and Benefits Counsel for Rep. John Lewis (D-GA-5)—a credential particularly valuable given PwC’s intense focus on pass-through entity taxation and the One Big Beautiful Bill Act.

Long-serving lobbyists Michael E. O’Brien (since 2006), Roslyn Brooks (since 2008), and Chatham T. Bray (since 2016) demonstrate institutional continuity rather than strategic shifts. The $710,000 expenditure represents sustained engagement on core business priorities, with the firm actively coordinating alongside KPMG and EY on shared legislative goals.

The Agenda

PwC US Group LLP is lobbying on four core priorities tied to its accounting and advisory business.

First, the firm is pushing for accounting to receive official STEM designation through the Accounting STEM Pursuit Act (H.R. 2911). Representatives Young Kim (R-CA) and Haley Stevens (D-MI) are leading bipartisan support, signaling strong momentum for expanding federal education funding and visa pathways for accounting professionals.

Second, PwC is engaged in the tax reform debate surrounding the One Big Beautiful Bill Act, which passed in July 2025. The firm’s focus is on pass-through entity taxation and qualified business income deductions. The law expanded the QBI deduction from 20% to 23%, directly benefiting pass-through entities that comprise a substantial portion of PwC’s client base.

Third, PwC is defending auditor oversight frameworks. While the PCAOB elimination provision was blocked under the Byrd Rule, Congress continues scrutinizing Sarbanes-Oxley compliance costs.

Finally, PwC is positioning itself for emerging markets. The GENIUS Act was signed into law on July 18, 2025, mandating audits for major stablecoin issuers. PwC is also lobbying on AI accountability and attestation issues, anticipating regulatory demand for AI auditing services.

Between The Lines

Congress is actively legislating on issues directly impacting PwC’s lobbying priorities. The Accounting STEM Pursuit Act (H.R. 2911) has gained meaningful bipartisan support, with Rep. Young Kim (R-CA) and Rep. Haley Stevens (D-MI) leading the effort.

On taxation, the One Big Beautiful Bill Act passed with contentious disputes over accounting methodology, expanding the qualified business income deduction to 23% permanently. The PCAOB survived an elimination attempt after a Senate Parliamentarian ruled the provision violated the Byrd Rule.

Regarding digital assets, the GENIUS Act became law in July 2025, mandating audited financial statements for major stablecoin issuers. The PCAOB is already developing audit regulations addressing AI tools and documentation, signaling that AI auditing standards are emerging as a regulatory priority.

Competitive Landscape

PwC is not pursuing its legislative agenda in isolation. The entire accounting industry is coordinating on shared priorities, particularly around the Accounting STEM Pursuit Act. Major competitors KPMG LLP, Washington Council Ernst & Young, and the Association of International Certified Professional Accountants are actively lobbying the same legislation.

This unified industry front amplifies lobbying pressure but reflects that the Big Four and regional firms share identical business interests around regulatory burden, tax policy, and emerging revenue opportunities in digital asset auditing and AI accountability services.

The Bottom Line

The lobbying effort reflects both defensive positioning on existing business lines and proactive market capture in emerging sectors, coordinated with industry peers pursuing identical legislative objectives as Congress actively shapes the regulatory landscape affecting the accounting profession’s future.