A new president and a new Congress will undoubtedly present new challenges — and, yes, opportunities — for CPAs come January. 

Our profession is keeping an eye on all of it.

The AICPA offered a post-election update on Nov. 7 to examine the issues that could be top of mind for CPAs once President Trump starts putting his legislative agenda into motion. While no one is exactly sure what will happen once the newly elected lawmakers are sworn in, the AICPA, the MACPA, and their legislative volunteers will be closely monitoring the following issues in the early days of the Trump II Administration:

• Potential IRS funding cuts and shifts in enforcement that could impact revenue and tax compliance.
• A potential restructuring of the PCAOB under SEC oversight, with significant implications for public company auditing.
• State-level policy shifts on A.I., cryptocurrencies, and environment, sustainability and governance (or ESG) issues, which will require CPAs to adapt messaging and remain engaged in regulatory discussions.
• Recent Supreme Court decisions that may bring challenges to regulatory implementation, adding uncertainty to federal oversight.
• State election results that show increased polarization, which may affect tax and regulatory policies at the state level.
• The expected re-emergence of a coalition around state and local tax (or SALT) deductions, with implications for tax policy debates.

The profession will be closely monitoring legislative developments in these areas and engage proactively with both state and federal policymakers as needed. The MACPA will keep members updated as developments warrant.

In the meantime, there are two critical ways in which Maryland CPAs can lend a hand to the MACPA's legislative efforts.

Join us at CPA Day in Annapolis

In Maryland, fiscal concerns at a number of statewide levels continue to put pressure on state regulators and legislators to find new sources of revenue. That increases the odds that lawmakers might look for creative ways to generate funding during the upcoming legislative session — and that, in turn, is putting the state’s CPAs on alert.

The message for MACPA members is clear: Vigilance is key as Maryland’s legislative season arrives, and that makes the 2025 edition of CPA Day in Annapolis especially important.

Scheduled for Jan. 16 at the Governor Calvert House in Annapolis, CPA Day gives members an opportunity to meet in person with their state legislators and discuss issues that impact Maryland CPAs and those with whom they do business. The event is immeasurably impactful: Legislators enthusiastically look forward to speaking directly with their constituents about the issues, and CPAs offer lawmakers deep experience, insights and expertise in matters related to finance and fiscal strategy.

The more CPAs who join us in Annapolis, the stronger the profession's legislative voice becomes. Get complete details and register to attend here.

Support our PAC

Maryland’s lawmakers vote on critical issues that impact your profession, your livelihood, and the businesses you serve.

That’s why we urge you to support the CPA Committee on Political Action. The CPA/CPA is the only political action committee in Maryland dedicated solely to fighting for CPAs in the legislative arena. 

Good relationships with legislators are the core of the MACPA’s legislative advocacy efforts. Your contribution to the CPA/CPA is one of the easiest and most effective ways for CPAs to get involved in the political process and have an impact on the profession.  

Contributions to our PAC lag far behind other professional groups. This puts us at a severe disadvantage, especially  when certain groups have interests opposed to ours and have far greater PAC participation from their members.

Through contributions from members like you, the PAC works toward favorable outcomes on legislative issues, educates legislators about matters that are important to the CPA profession, and keeps MACPA members informed. But we can’t do it alone. Your involvement makes a difference and ensures that, together, we make the greatest impact.

Please support the MACPA’s CPA/CPA today by donating online at MACPA.org/advocacy.