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United States · Bill · S

S. 5420 (118th)

FAIR Act

referredUnited States· United States Congress· EN

Introduced

4 December 2024

Last action

4 December 2024 · Introduced

Status

Read twice and referred to the Committee on the Budget.

Sponsors

Sen. Warren, Elizabeth [D-MA]

Subjects

Taxation, Budget

Source updated

5 December 2025

Taxation · Budget

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Summary

Fiscal Analysis by Income and Race Scoring Act or the FAIR Act This bill requires the Congressional Budget Office's (CBO's) cost estimates for legislation to include a distributional analysis by race and income if the legislation will have a gross budgetary effect of at least 0.1% of gross domestic product in any fiscal year within the budget window (usually 10 years).  CBO's analysis must show the transfers that would result by race and income level, and the effects must be shown both in dollars and as a percent change in after-tax-and-transfer-income. The bill also requires CBO to report to Congress on methods for conducting such a distributional analysis by gender.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 4 December 2024

    Introduced

    Read twice and referred to the Committee on the Budget.

    Source: IntroReferral

  2. 4 December 2024

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 4 December 2024

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 4 December 2024

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 4 December 2024

    Open at official source

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Sponsors

Related records

Sources

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