The Precious Metals Parity Act is currently in the early stages of the legislative process. It was recently introduced in the Senate and sent to the Committee on Finance for review. No further actions are scheduled at this time, and the bill is waiting for the committee to decide on its next steps.
Legislative Progress
Senate
House
President
Law
Could go either way
The bill has support from both parties, which is a good sign. However, small tax changes like this often have to wait to be added to a much larger bill before they can pass.
How we got here
This bill’s path across every version that has carried it.
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Reintroduced
Reintroduced from S. 4014 (118th), which died when its Congress ended.
This bill updates the tax code so that investment companies can treat income from gold, silver, and other precious metals as official qualifying income. Right now, these companies have to follow strict rules about where their profits come from to avoid being taxed twice.
By making this change, mutual funds and other investment groups can more easily include precious metals in their portfolios. This could give everyday investors more ways to diversify their savings and protect against changes in the economy.
The bill was introduced by a group of Democratic and Republican senators. It aims to treat precious metals the same way the law already treats stocks, bonds, and foreign money.
If it becomes law, these changes would take effect for the next tax year. This would simplify the rules for fund managers and potentially lower costs for people who want to invest in metals.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
2 milestones2 actions
Mar 12, 2025Senate
Read twice and referred to the Committee on Finance.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Mar 12, 2025
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
No votes, news coverage, or related bills recorded for this bill yet.
Source Information
Document Type
Congressional Bill
Official Title
Precious Metals Parity Act
Bill NumberS 989
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on Finance.
