H.R. 4789

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4789 Introduced in House (IH)]

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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.
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