,,ii #aagth ,,congress #ast ,session ,s4 #bgbc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,september #ac1 #bjba ,ms4 ,warren 7for herself and ,mr4 ,bennet7 introduced the following bill2 which was read twice and referred to the ,committee on the ,budget ,a ,,bill ,to amend the ,congressional ,budget and ,impoundment ,control ,act of #aigd by requiring a distribution analysis of a bill or resolution under certain circumstances1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,fiscal ,analysis by ,income and ,race ,scoring ,act or the ,,fair ,scoring ,act4 #b4 ,findings ,congress finds the following3 7#a7 ,wealth inequality is steadily rising in the ,united ,states4 ,as the disparities between the richest ,americans and the poorest ,americans widen1 ,white ,americans have grown disproportionately wealthier1 while the median wealth of ,black ,americans has stagnated4 7#b7 ,in #aifh1 and with the amounts adjusted for inflation1 the median middle-class ,black household had #f1fgd in wealth1 while the median middle-class ,white household had #gj1ghf in wealth4 ,in #bjaf1 the typical middle-class ,black household had #ac1jbd in wealth compared to #adi1gjc for the median ,white household4 7#c7 ,as of #bjai1 the typical ,white family has eight times the wealth of the typical ,black family and five times the wealth of the typical ,hispanic family4 7#d7 ,as of #bjai1 ,white families have the highest level of both median wealth3 #ahh1bjj4 ,black families' median and mean wealth is less than #ae percent that of ,white families1 at #bd1ajj4 ,hispanic families' median and mean wealth is #cf1ajj4 7#e7 ,as of #bjai1 families who are ,asian1 ,american ,indian1 ,alaska ,native1 ,native ,hawaiian1 or ,pacific ,islander have lower wealth than ,white families1 but higher wealth than ,black and ,hispanic families4 7#f7 ,the family income gap between ,black and ,white ,americans today remains at almost exactly the level it was in the #aifjs4 7#g7 ,in #bjaf1 the median annual income for ,asian ,american adults was #ea1bhh1 compared with #dg1ieh for ,white ,americans1 #ca1jhb for ,african ,americans1 and #cj1djj for ,hispanic ,americans4 7#h7 ,as of the last quarter of #bjai1 the median ,white worker made #bh percent more than the typical ,black worker and more than #ce percent more than the median ,latinx worker4 7#i7 ,on average1 women are paid #hb cents for every dollar paid to men4 ,for every dollar paid to ,white men1 ,black women are paid #fc cents1 ,native ,american women are paid #fj cents1 and ,latinas are paid #ee cents4 7#aj7 ,asian ,american and ,pacific ,islander 7,,aapi7 women make #he cents for every dollar paid to ,white men1 and different groups within ,america's ,,aapi community have unique experiences with economic discrimination4 ,for example1 between #bjae and #bjai1 ,hmong women earned #fj cents for every dollar paid to ,white men4 7#aa7 ,disparities in wealth between genders are even more stark4 ,as of #bjac1 the average wealth for working single women was #c1baj1 whereas the single working man had a median wealth of #aj1aej4 ,single ,black women had a median wealth of #bjj1 and single ,hispanic women had a median wealth of #ajj3 less than a penny for every dollar of wealth owned by single ,white non-,hispanic men4 7#ab7 ,the ,,covid-#ai pandemic has exacerbated existing inequalities in ,america4 ,many longstanding economic conditions1 such as lower levels of income and wealth and higher levels of housing and food insecurity1 leave individuals of color1 particularly women of color and ,black women1 with less cushion1 making them more vulnerable during the ,,covid-#ai economic crisis4 7#ac7 ,informed and well-designed policies are needed to curb the growing inequality between ,americans of different races and income levels4 ,in order to meet this need1 ,congress needs access to standardized1 reliable information about the socioeconomic consequences of the legislation it enacts4 #c4 ,distribution analysis by income and race 7a7 ,,cbo estimates ,section #djb of the ,congressional ,budget and ,impoundment ,control ,act of #aigd 7#b ,u4,s4,c4 #fec7 is amended-- 7#a7 in paragraph 7#b71 by striking and at the end2 7#b7 in paragraph 7#c71 by striking the period at the end and inserting 2 and2 7#c7 by adding after paragraph 7#c7 the following3 7#d7 for a bill or joint resolution that has a gross budgetary effect of at least #j4a percent of the gross domestic product of the ,united ,states in any fiscal year within the budget window-- 7,a7 a distribution analysis by income showing the transfers that would result in dollars and as a percent change in after-tax-and-transfer income for as many years in the budget as is necessary to illustrate the anticipated effects2 and 7,b7 a distribution analysis by race showing the transfers that would result in dollars and as a percent change in after-tax-and-transfer income for as many years in the budget as is necessary to illustrate the anticipated effects4 2 and 7#d7 in the text following paragraph 7#d7 7as added by paragraph 7#c7 of this subsection7 by striking and description and inserting description1 and analyses4 7b7 ,,jct estimates ,section #bja7;f7 of the ,congressional ,budget and ,impoundment ,control ,act of #aigd 7#b ,u4,s4,c4 #fja7;f77 is amended to read as follows3 7f7 ,revenue legislation ,for the purposes of revenue legislation which is income1 estate and gift1 excise1 and payroll taxes 7i4e41 ,social ,security71 considered or enacted in any session of ,congress1 the ,congressional ,budget ,office shall use exclusively during that session of ,congress revenue estimates and distribution analyses provided to it by the ,joint ,committee on ,taxation4 ,during that session of ,congress such revenue estimates and distribution analyses shall be transmitted by the ,congressional ,budget ,office to any committee of the ,house of ,representatives or the ,senate requesting such estimates1 and shall be used by such ,committees in determining such estimates4 ,the ,budget ,committees of the ,senate and ,house shall determine all estimates with respect to scoring points of order and with respect to the execution of the purposes of this ,act4 4 #d4 ,report on distribution analysis by gender ,not later than #a year after the date of enactment of this ,act1 the ,director of the ,congressional ,budget ,office shall-- 7#a7 prepare a report describing methods appropriate for the conduct of distribution analyses by gender for major legislation1 including strengths and weaknesses of different approaches2 and 7#b7 submit such report to the chairs and ranking members of the ,committee on ,finance of the ,senate and the ,committee on ,ways and ,means of the ,house of ,representatives4