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Bill
S. 2499
FAIR Act
Shown here:
Introduced in Senate (2025-07-29)
To amend the Federal Reserve Act to strike a provision relating to earnings on balances, and for other purposes.
1. Short title
This Act may be cited as the “Fiscal Accountability for Interest on Reserves Act” or the “FAIR Act”.
2. Earnings on balances
(a) In general
Section 19(b) of the Federal Reserve Act (
12 U.S.C. 461(b)
) is amended by striking paragraph (12).
(b) Effective date
The amendment made by subsection (a) shall take effect on the date that is 180 days after the date of enactment of this Act.