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S 5420 118th Congress Senate Economics and Public Finance

FAIR Act

Introduced: December 4, 2024 Introduced by: Warren, Elizabeth Democratic · Massachusetts See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 4, 2024
Read twice and referred to the Committee on the Budget.
Dec 4, 2024
Introduced in Senate
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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

Read twice and referred to the Committee on the Budget.

 Related & companion bills 1
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). S. 5420: FAIR Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-5420/
MLA
"S. 5420: FAIR Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-5420/.
Bluebook (legal)
S. 5420, 118th Cong. (2026), https://openamerica.io/bill/118-S-5420/.
Markdown link
[S. 5420: FAIR Act](https://openamerica.io/bill/118-S-5420/)
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