II 

118TH CONGRESS 

2D SESSION S. 5420 

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. 

IN THE SENATE OF THE UNITED STATES 

DECEMBER 4, 2024 

Ms. WARREN introduced the following bill; which was read twice and referred 

to the Committee on the Budget 

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. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Fiscal Analysis by In5 come and Race Scoring Act’’ or the ‘‘FAIR Act’’. 

6 SEC. 2. FINDINGS. 

7 Congress finds the following: 


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1 (1) Wealth inequality is steadily rising in the 

2 United States, and, as the disparities between the 

3 richest Americans and the poorest Americans widen, 

4 White Americans have grown disproportionately 

5 wealthier, while the median wealth of Black Ameri6 cans has stagnated. 

7 (2) In 1968, and with the amounts adjusted for 

8 inflation, the median middle-class Black household 

9 had $6,674 in wealth, while the median middle-class 

10 White household had $70,786 in wealth, and in 

11 2016, the median middle-class Black household had 

12 $13,024 in wealth compared to $149,703 for the 

13 median White household. 

14 (3) As of 2019, the typical White family has 8 

15 times the wealth of the typical Black family and 5 

16 times the wealth of the typical Hispanic family. 

17 (4) As of 2019, White families have the highest 

18 level of both median and mean wealth at $188,200 

19 and $983,400, respectively, while Black and His20 panic families have considerably less wealth than 

21 White families, with Black families having a median 

22 and mean wealth of less than 15 percent of the me23 dian and mean wealth of White families, at $24,100 

24 and $142,500, respectively, and Hispanic families 


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1 having a median and mean wealth of $36,100 and 

2 $165,500, respectively. 

3 (5) In 2023, the median annual income for 

4 households led by Asian Americans was $112,200, 

5 compared with $89,050 for non-Hispanic White-led 

6 households, $56,490 for Black-led households, and 

7 $65,540 for Hispanic-led households. 

8 (6) As of the second quarter of 2024, the me9 dian usual weekly earnings for full-time wage and 

10 salary workers for White workers were roughly 24 

11 percent more than for Black workers and roughly 29 

12 percent more than for Hispanic workers. 

13 (7) As of the second quarter of 2024, women 

14 earned roughly 81 cents for every dollar paid to 

15 men, as measured by median usual weekly earnings 

16 for full time wage and salary workers, and for every 

17 dollar paid to White men, Black women earned 

18 roughly 71 cents, and Hispanic women earned 

19 roughly 65 cents. 

20 (8) Different groups within the Asian American 

21 and Pacific Islander community have unique experi22 ences with economic discrimination. For example, 

23 between 2015 and 2019, Hmong women earned 60 

24 cents for every dollar paid to White men. 


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1 (9) Disparities in wealth between genders are 

2 even more stark. As of 2022, the median net worth 

3 for female-led households was $58,080, whereas 

4 male-led households had a median net worth of 

5 $82,200, and a study from 2013 showed that single 

6 Black women and single Hispanic women had a me7 dian wealth averaging less than a penny for every 

8 dollar of wealth owned by single White non-Hispanic 

9 men. 

10 (10) Informed and well-designed policies are 

11 needed to curb the growing inequality between 

12 Americans of different races and income levels, and 

13 in order to meet this need, Congress needs access to 

14 standardized, reliable information about the socio15 economic consequences of the legislation it enacts. 

16 SEC. 3. DISTRIBUTION ANALYSIS BY INCOME AND RACE. 

17 (a) CBO ESTIMATES.—Section 402 of the Congres18 sional Budget and Impoundment Control Act of 1974 (2 

19 U.S.C. 653) is amended— 

20 (1) in paragraph (2), by striking ‘‘and’’ at the 

21 end; 

22 (2) in paragraph (3), by striking the period at 

23 the end and inserting ‘‘; and’’; 

24 (3) by inserting after paragraph (3), and before 

25 the flush text, the following: 


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1 ‘‘(4) for a bill or joint resolution that has a 

2 gross budgetary effect of at least 0.1 percent of the 

3 gross domestic product of the United States in any 

4 fiscal year within the budget window— 

5 ‘‘(A) a distribution analysis by income 

6 showing the transfers that would result in dol7 lars and as a percent change in after-tax-and8 transfer income for as many years in the budg9 et as is necessary to illustrate the anticipated 

10 effects; and 

11 ‘‘(B) a distribution analysis by race show12 ing the transfers that would result in dollars 

13 and as a percent change in after-tax-and-trans14 fer income for as many years in the budget as 

15 is necessary to illustrate the anticipated ef16 fects.’’; and 

17 (4) in the flush text following paragraph (4), as 

18 added by paragraph (3) of this subsection, by strik19 ing ‘‘and description’’ and inserting ‘‘description, 

20 and analyses’’. 

21 (b) JCT ESTIMATES.—Section 201(f) of the Con22 gressional Budget and Impoundment Control Act of 1974 

23 (2 U.S.C. 601(f)) is amended— 


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1 (1) by inserting ‘‘and distribution analyses’’ 

2 after ‘‘revenue estimates’’ each place the term ap3 pears; and 

4 (2) in the last sentence, by striking ‘‘The Budg5 et Committees of the Senate and the House’’ and in6 serting ‘‘The Committee on the Budget of the Sen7 ate and the Committee on the Budget of the House 

8 of Representatives’’. 

9 SEC. 4. REPORT ON DISTRIBUTION ANALYSIS BY GENDER. 

10 Not later than 1 year after the date of enactment 

11 of this Act, the Director of the Congressional Budget Of12 fice shall— 

13 (1) prepare a report describing methods appro14 priate for conducting distribution analyses by gender 

15 for major legislation, including strengths and weak16 nesses of different approaches; and 

17 (2) submit such report to the chairs and rank18 ing members of the Committee on Finance of the 

19 Senate and the Committee on Ways and Means of 

20 the House of Representatives. 

Æ 


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