FAIR Act

The FAIR Act requires the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) to produce new distribution analyses for federal bills with significant budgetary impacts (at least 0.1% of GDP). Specifically, it mandates that the CBO provide analyses showing how legislation affects income distribution by race and by income level, including dollar amounts and percentage changes in after-tax-and-transfer income. The JCT must also incorporate these analyses into its revenue estimates. Additionally, the CBO must prepare a report within one year on methods for conducting gender-based distribution analyses for major legislation, to be submitted to congressional budget committees.