Fiscal Analysis by Income and Race Scoring Act or the FAIR 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 within the budget window (usually 10 years).
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.