FAIR Act
The FAIR Act requires the Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) to produce distribution analyses by income and race for bills with a significant budgetary impact (at least 0.1% of GDP). These analyses must show expected dollar and percentage changes in after-tax-and-transfer income for different racial and income groups over time. Additionally, the bill mandates the CBO to prepare a report within one year on methods for conducting gender-based distribution analyses for major legislation. This policy change aims to provide Congress with standardized data on how proposed laws affect economic disparities.
Bill status
in committee
1 of 4 stages cleared
Introduction
Dec 2024
Committee Review
Floor Vote
President
Introduced Dec 4, 2024
Last action Dec 4, 2024
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Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Dec 4, 2024
Committee
Referred to the Committee on the Budget, and in addition to the Committees on Rules, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
lower
Dec 4, 2024
Introduced
Introduced in House
lower
1 primary · 4 co-sponsors
Sponsors
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