A Republican bill with no cosponsors
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill is titled the "Fiscal Accountability for Interest on Reserves Act" or the "FAIR Act." It seeks to amend the Federal Reserve Act. The primary purpose is to strike a specific provision related to earnings on balances. Specifically, it targets paragraph (12) of Section 19(b). The change would take effect 180 days after the Act is enacted.
Yes· 3 of 4
- Scored +2
Does this reduce what the federal government spends?
By striking the provision related to earnings on balances, the bill likely reduces the amount of interest the Federal Reserve pays out, thereby reducing government-related expenditures.
- Scored +1
Would households on low incomes be better off under this?
Reducing interest payments on reserves may indirectly benefit the federal budget which supports various social programs.
- Scored +1
Would middle-income households be better off under this?
The reduction in government spending on interest payments could have a slight positive impact on general fiscal stability for all households.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Changes to Federal Reserve Act: The bill aims to strike paragraph (12) of Section 19(b) of the Federal Reserve Act, which relates to earnings on balances (Section 2(a)).
Potential Negative Impacts for People
- No details provided: The text does not explicitly state any negative consequences or burdens resulting from the removal of the provision in Section 19(b) (Section 2(a)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — Reducing interest payments on reserves may indirectly benefit the federal budget which supports various social programs. Would middle-income households be better off under this? — The reduction in government spending on interest payments could have a slight positive impact on general fiscal stability for all households.
- Economy And Finance
- Does this reduce what the federal government spends? — By striking the provision related to earnings on balances, the bill likely reduces the amount of interest the Federal Reserve pays out, thereby reducing government-related expenditures.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill's title, the Fiscal Accountability for Interest on Reserves Act, suggests a legislative intent to increase fiscal oversight and accountability.
- 7/29/2025
- Referred to the House Committee on Financial Services.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.