Horsford Introduces Bipartisan Legislation to Give Working Families More Tools to Build Financial Security

WASHINGTON D.C. – Congressman Steven Horsford (NV-04), Congressman Kevin Hern (OK-01), and Congressman Nathaniel Moran (TX-01) today introduced the Precious Metals Parity Act, bipartisan legislation that modernizes the tax treatment of precious metals such as “gold, silver, platinum, and palladium by allowing income from those metals to be treated similarly to income from traditional investment assets, such as stocks, bonds, and foreign currencies, under the tax code.

"As families continue to face rising costs and economic uncertainty, they deserve every tool available to build wealth, protect their savings, and prepare for retirement," said Rep. Horsford. "The Precious Metals Parity Act removes outdated barriers that have limited access to investment options that can help working families diversify their portfolios and hedge against inflation. At a time when too many Americans are worried about their financial future, this legislation gives people greater flexibility to plan ahead, build long term security, and keep more control over how they invest in themselves and their families."

“Americans deserve the freedom to diversify and grow their savings without unnecessary tax hurdles. The Precious Metals Parity Act modernizes the tax treatment of mutual funds and ETFs by treating precious metals investments the same way we already treat stocks, bonds, and foreign currencies, ensuring Americans have easier access to investment opportunities already available in competing global markets. Establishing this parity is not only important for families trying to diversify their savings, but also for our national security as China aggressively expands their precious metals reserves. We should be making it easier for Americans to invest and plan for their futures, and this bill removes burdensome government barriers standing in their way.” — Rep. Kevin Hern (OK-01)

The Precious Metals Parity Act would:

For Bill Text Click Here.