FAIR Scoring Act

Hozzl · 2022-12-31T05:35:48Z

Explore the details of Senate Bill 2723 FAIR Scoring Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Economics and Public Finance. Stay informed on legislative developments.

12/31/2022, 5:35 AM

Congressional Summary of S 2723

Fiscal Analysis by Income and Race Scoring Act or the FAIR Scoring Act

This bill requires the Congressional Budget Office's (CBO's) cost estimates for legislation to include a distributional analysis by race and income if the legislation will have a gross budgetary effect of at least 0.1% of gross domestic product in any fiscal year during the 10-year budget window.

CBO's analysis must show the transfers that would result by race and income level, and the effects must be shown both in dollars and as a percent change in after-tax-and-transfer-income.

The bill also requires CBO to report to Congress on methods for conducting such a distributional analysis by gender.

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Current Status of Bill S 2723

Bill S 2723 is currently in the status of Bill Introduced since September 13, 2021. Bill S 2723 was introduced during Congress 117 and was introduced to the Senate on September 13, 2021. Bill S 2723's most recent activity was Read twice and referred to the Committee on the Budget. as of September 13, 2021

Bipartisan Support of Bill S 2723

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 2723

Primary Policy Focus

Economics and Public Finance

Potential Impact Areas

- Budget process

- Congressional oversight

- Economic performance and conditions

- Employment taxes

- Income tax rates

- Legislative rules and procedure

- Racial and ethnic relations

- Sales and excise taxes

- Sex, gender, sexual orientation discrimination

- Transfer and inheritance taxes

Alternate Title(s) of Bill S 2723

A bill to amend the Congressional Budget and Impoundment Control Act of 1974 by requiring a distribution analysis of a bill or resolution under certain circumstances, and for other purposes.

FAIR Scoring Act

Fiscal Analysis by Income and Race Scoring Act