Bill · S. 989· Senate(119-S-989)
Precious Metals Parity Act
- Introduced
- 3/12/2025
- Last activity
- 3/12/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Catherine Cortez Masto
- Cosponsors
- - 0 - 3
- Introduced
- In Committee
What this bill would do
The Precious Metals Parity Act aims to amend the Internal Revenue Code of 1986. It seeks to change how income is treated for regulated investment companies. Specifically, the bill would treat income received from precious metals as qualifying income. This would place precious metals in the same category as foreign currencies. The changes would apply to taxable years beginning after the bill is enacted.
Yes· 3 of 6
Would high-income households be better off under this?+4
The bill benefits high-income individuals who invest heavily in regulated investment companies holding precious metals.
Would people with substantial wealth be better off under this?+4
The change in tax treatment provides a benefit for those managing significant assets in precious metals.
Would the very wealthiest people be better off under this?+4
The bill eases tax complexity for high-value precious metal investments.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Treatment of income from precious metals: By amending Section 851(b)(2)(A) of the Internal Revenue Code of 1986, the bill allows income from precious metals to be treated as qualifying income, similar to foreign currencies. (Section 2(a))
Potential Negative Impacts for People
- No negative impacts are explicitly mentioned in the provided text.
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 Billionaires+4Good For High Income Households+4Good For High Net Worth Individuals+4Good For Ultra High Net Worth Individuals+4
- Economy And Finance
- Reduces Capital Gains Tax+3Improves Economic Growth+1
- 5/12/2026
- 1 Cosponsor added.
- 3/12/2025
- Read twice and referred to the Committee on Finance.
- 2 Cosponsors added.
- Introduced in Senate
Cynthia LummisRepublican · Wyoming
Mike LeeRepublican · Utah
James RischRepublican · Idaho