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S2499119th CongressWALLET

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
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