Introduced
S. 2499
Introduced in Senate · August 8, 2025July 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. Short title.
This Act may be cited as the “Fiscal Accountability for Interest on Reserves Act” or the “FAIR Act”.