A new report is adding fuel to Republican efforts to frame 2026 as the opening salvo in President Donald Trump’s so-called “War on Fraud,” just days before House lawmakers are set to question Minnesota’s top officials over what the president has described as one of the largest public-fraud scandals in the country. The State Financial Officers Foundation (SFOF) report, released Tuesday morning, claims that 40 conservative state treasurers, auditors, and comptrollers across 28 states recovered or returned $28 billion in taxpayer funds this year through efforts targeting waste, fraud, abuse, unclaimed property, and investment mismanagement. The organization says the report will be issued annually. In a letter accompanying the report, SFOF CEO OJ Oleka wrote to Vice President JD Vance, who was tasked during the State of the Union with helping lead the administration’s anti-fraud initiative, pledging state-level cooperation with federal enforcement efforts. The letter was also sent to Associate Deputy Attorney General Colin McDonald, recently nominated by Trump to serve as the first Assistant Attorney General for National Fraud Enforcement at the Justice Department, a role supporters have dubbed the administration’s “fraud czar.” It comes at an auspicious time for the administration and his supporters. The United States House Committee on Oversight and Accountability is preparing to question Minnesota Gov. Tim Walz and Attorney General Keith Ellison over oversight failures connected to a sweeping pandemic-era fraud case involving a federally funded child nutrition program in Minnesota. During his State of the Union address, Trump singled out Minnesota as a “stunning example” of systemic fraud, alleging that billions in taxpayer funds were siphoned off through fraudulent schemes. Federal prosecutors have previously charged dozens of individuals in connection with the case, which centered on misuse of COVID-relief funds intended to feed low-income children. Court filings have detailed large sums improperly obtained, though the precise dollar totals remain the subject of ongoing legal proceedings. Republicans argue the case reflects broader governance failures in Democratic-led states. In a statement obtained exclusively by The Daily Wire ahead of the Oversight hearing, Republican Minnesota State Senator Jordan Rasmusson said taxpayers “deserve answers on why billions of taxpayer dollars were stolen through fraudulent schemes under the failed leadership of Governor Tim Walz and Attorney General Keith Ellison,” adding that federal intervention has been critical in prosecuting offenders. Oleka framed the Minnesota case as a cautionary tale. In his statement, also exclusively obtained by The Daily Wire,  he called it “a criminal heist of historic proportions” and argued that eliminating the state treasurer’s office in Minnesota diffused financial oversight authority. Minnesota voters approved a constitutional amendment in 1998 abolishing the elected treasurer position, consolidating certain duties under other state offices. Supporters of Walz and Ellison have previously maintained that the fraud was uncovered through state and federal cooperation and that prosecutions demonstrate the system ultimately worked. The governor’s office has said it has implemented additional oversight mechanisms since the scandal emerged. The SFOF report contrasts what it describes as aggressive fraud recovery efforts in red states with what it characterizes as lax oversight in states like Minnesota. The new report from the State Financial Officers Foundation details what it describes as a coordinated effort by conservative financial officers to aggressively police public spending and return money to taxpayers. According to SFOF, its members uncovered $5.7 billion in waste, fraud, and abuse in 2025 alone, while generating or returning another $22.3 billion through investment earnings and unclaimed property programs, totaling $28 billion in what the organization calls protected or restored taxpayer funds. Among the largest waste and fraud findings highlighted in the report were in Florida, where Chief Financial Officer Blaise Ingoglia identified roughly $1.86 billion in what SFOF described as excessive or wasteful local government spending, and in Kentucky, Auditor Allison Ball flagged approximately $1 billion in Medicaid waste and lapsed education funds. Whether the upcoming Oversight hearing produces new disclosures remains to be seen. But with the White House publicly elevating fraud enforcement as a national priority, and state financial officers positioning themselves as frontline partners, the Minnesota case is likely to serve as a test of competing narratives: one arguing systemic executive failure necessitating strong preemptive action, the other pointing to eventual detection and reaction as evidence of accountability.