Introduced:
Jul 29, 2025
Policy Area:
Finance and Financial Sector
Congress.gov:
Bill Statistics
2
Actions
1
Cosponsors
0
Summaries
1
Subjects
1
Text Versions
Yes
Full Text
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Latest Action
Jul 29, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Actions (2)
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Type: IntroReferral
| Source: Senate
Jul 29, 2025
Introduced in Senate
Type: IntroReferral
| Source: Library of Congress
| Code: 10000
Jul 29, 2025
Subjects (1)
Finance and Financial Sector
(Policy Area)
Cosponsors (1)
(R-TX)
Jul 29, 2025
Jul 29, 2025
Full Bill Text
Length: 1,372 characters
Version: Introduced in Senate
Version Date: Jul 29, 2025
Last Updated: Nov 18, 2025 2:27 AM
[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2499 Introduced in Senate
(IS) ]
<DOC>
119th CONGRESS
1st Session
S. 2499
To amend the Federal Reserve Act to strike a provision relating to
earnings on balances, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 29, 2025
Mr. Scott of Florida (for himself and Mr. Cruz) introduced the
following bill; which was read twice and referred to the Committee on
Banking, Housing, and Urban Affairs
_______________________________________________________________________
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,
[From the U.S. Government Publishing Office]
[S. 2499 Introduced in Senate
(IS) ]
<DOC>
119th CONGRESS
1st Session
S. 2499
To amend the Federal Reserve Act to strike a provision relating to
earnings on balances, and for other purposes.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
July 29, 2025
Mr. Scott of Florida (for himself and Mr. Cruz) introduced the
following bill; which was read twice and referred to the Committee on
Banking, Housing, and Urban Affairs
_______________________________________________________________________
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.
This Act may be cited as the ``Fiscal Accountability for Interest
on Reserves Act'' or the ``FAIR Act''.
SEC. 2.
(a) In General.--
Section 19
(b) of the Federal Reserve Act (12
U.
(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>