Medicaid and TANF Waiver Fairness Act of 1997

Medicaid and TANF Waiver Fairness Act of 1997 - Amends title XI of the Social Security Act (SSA) to establish a 270-day post-receipt deadline for the approval or denial by the Secretary of Health and Human Services of an application for a waiver of certain Temporary Assistance for Needy Families (TANF) and Medicaid program requirements under SSA title IV part A and title XIX, respectively, for certain State (welfare reform) demonstration projects. Deems a waiver application approved after the deadline passes if the Secretary has not given the applicant written notice of denial. Requires a written explanation to the Congress within 15 days after any waiver application denial.