No it isn't revenue neutral.
First, they have to collect the money to pay the socialist prebate entitlement, that is a significant increase in the government collections.
Second, they have to increase the amount of money collected so they can pay the FairTax, this hasn't yet been acknowledged by the FairTax organizations, but it is true nonetheless.
So, the government collections under the FairTax are significantly larger than todays collections. Hence, it's not revenue neutral.
It will certainly appear huge when you purchase the $250,000 home and they ask you for $350,000 or more to pay for it.