Precious Metals Parity Act

# Precious Metals Parity Act Summary **What the Bill Would Do** The Precious Metals Parity Act (S 989) aims to establish equal treatment for different types of precious metals in federal tax and regulatory policies. While specific details aren't provided in the available information, bills with this title typically seek to remove disparities in how gold, silver, platinum, and other precious metals are taxed or regulated compared to one another. The goal is usually to create a level playing field so that one metal isn't favored over another through the tax code. **Who It Affects** This bill would primarily impact precious metals dealers, investors, collectors, and mining companies. It could also affect consumers who buy or sell these metals, as well as the federal government's tax revenue.

State and local governments might be affected depending on how the provisions interact with existing state tax laws. **Current Status** As of now, S 989 remains in committee, meaning it has not yet advanced to a full vote in the Senate. The bill was introduced by Senator Catherine Cortez Masto (D-Nevada) in the 119th Congress. For the bill to become law, it would need to pass out of committee, be approved by the full Senate, pass the House of Representatives, and be signed by the President.