Fiscal Accountability for Interest on Reserves Act

S. 2499 · 119th Congress · Jul 29, 2025 · Lineage

A BILL

To amend the Federal Reserve Act to strike a provision relating to earnings on balances, and for other purposes.

This Act may be cited as the “Fiscal Accountability for Interest on Reserves Act” or the “FAIR Act”.

(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.