FAIR Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 4789 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 4789 To amend the Federal Reserve Act to strike a provision relating to earnings on balances, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 29, 2025 Mr. Davidson introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Federal Reserve Act to strike a provision relating to earnings on balances, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Fiscal Accountability for Interest on Reserves Act'' or the ``FAIR Act''. SEC. 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. <all>