Bill · H.R. 8007· House(119-HR-8007)
SILVER Act
- Introduced
- 3/19/2026
- Last activity
- 3/19/2026 — Referred to the House Committee on Agriculture.
- Sponsored by
- Russ Fulcher
- Cosponsors
- - 6 - 2
- Introduced
- In Committee
What this bill would do
This bill is known as the SILVER Act. It amends the Commodity Exchange Act to address risks related to the geographic concentration of precious metals storage depositories. Currently, exchanges require physically traded metals to be stored near New York City, which creates systemic risks and higher costs. The bill requires derivatives clearing organizations to develop clear rules to select and approve new storage depositories. These new rules must increase geographic diversity, competition, and cost efficiency. Specifically, clearing organizations must select at least two depositories in the Eastern, Central, Mountain, and Pacific time zones.
Yes· 3 of 6
Would business owners be better off under this?+3
The bill aims to reduce storage costs and increase competition for market participants.
Is this likely to grow the economy?+3
The bill aims to enhance market liquidity and accessibility through expanded storage and competition.
Does this make what the government does easier for the public to see?+3
The bill requires derivatives clearing organizations to develop and publish objective and transparent criteria for selecting depositories.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Section 3 (amending Section 5b(c)(2)(F)(iii) of the Commodity Exchange Act) requires derivatives clearing organizations to select at least two depositories in each U.S. time zone (Eastern, Central, Mountain, and Pacific). This could benefit individuals and groups by lowering storage costs and increasing market access through lower-cost markets near transportation networks.
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Section 3 (amending Section 5b(c)(2)(F)(iii) of the Commodity Exchange Act) mandates that clearing organizations use objective and transparent criteria and provide a formal application process when selecting storage depositories. This holds officials accountable by making the selection process clear and transparent for the public and market participants.
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Section 3 (amending Section 5b(c)(2)(I) of the Commodity Exchange Act) requires periodic assessments of the ease of access for market participants regarding physical settlement anywhere in the United States. This benefits people by ensuring system availability and resiliency across the country.
Potential Negative Impacts for People
- The provided text does not explicitly mention any specific negative impacts, burdens, or consequences for individuals or groups of people in the United States.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+3Good For Rural Residents+2
- Economy And Finance
- Improves Economic Growth+3Improves Consumer Protection+2
- Governance And Ideology
- Improves Government Transparency+3
- Environment Energy And Infrastructure
- Improves Rural Development+2
- 10/1/2026
- 1 Cosponsor added.
- 9/28/2026
- 1 Cosponsor added.
- 8/10/2026
- 1 Cosponsor added.
- 7/14/2026
- 1 Cosponsor added.
- 6/24/2026
- 1 Cosponsor added.
- 6/23/2026
- 1 Cosponsor added.
- 6/4/2026
- 1 Cosponsor added.
- 3/19/2026
- Referred to the House Committee on Agriculture.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Mark AmodeiRepublican · Nevada
Harriet HagemanRepublican · Wyoming
Mark HarrisRepublican · North Carolina
Susie LeeDemocrat · Nevada
Mary MillerRepublican · Illinois
Addison McDowellRepublican · North Carolina
John RoseRepublican · Tennessee
Shri ThanedarDemocrat · Michigan