HR 10289 118th Congress House Economics and Public Finance

FAIR Act

Introduced: December 4, 2024 Introduced by: Khanna, Ro Democratic · California See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 4, 2024

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.

Dec 4, 2024

Introduced in House

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Plain-English summary Congressional Research Service

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.

What's happening now December 4, 2024

Related & companion bills 1

Bill text 1 version