Please switch the requirements to become a CPA to 123 hours (normal graduation credits) and 2 years of experience rather than 150 hours with 1 year of experience. 4 test, plus exam exam, plus 1 year professional experience, plus 150 hours is an extremely high standard when the rates people are joining accounting are clearly falling. I’ve spoken to local House of Representatives but It gets pushed to the 80 year olds that make accounting standards who worship accounting their whole life, but don’t represent a normal accountant.
The economic benefit is people can begin work quicker after 4 years of college rather than 5 years of college. The average cost of 1 year of school & average salary of the 1 year of work you miss is about 65-85k which could create a lot of tax dollars.