FAIR Act
Sponsored By: Senator Scott, Rick [R-FL]
Introduced
Summary
Would remove the Federal Reserve's statutory provision governing earnings on reserve balances. The bill amends the Federal Reserve Act by striking paragraph (12) of section 19(b), which addresses earnings on balances. This change would take effect 180 days after enactment and is limited to that single statutory deletion.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Change to Federal Reserve earnings rule
This bill would remove a statutory paragraph that governs Federal Reserve earnings on reserve balances. The change would take effect 180 days after enactment. It would change how the Fed treats and reports those earnings and could change how much the Fed remits to the Treasury. Any effects on government finances and household budgets would be indirect and uncertain.
Sponsors & CoSponsors
Sponsor
Scott, Rick [R-FL]
FL • R
Cosponsors
Sen. Cruz, Ted [R-TX]
TX • R
Sponsored 7/29/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov