H.R. 2883, The Fair Treatment for Precious Metals Investors Act

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 2883 would amend the Internal Revenue Code of 1986 to treat gold, silver, platinum, and palladium, in either coin or bar form, in the same manner as equities and mutual funds for purposes of the maximum capital gains rate for individuals.

Detailed Summary

Fair Treatment for Precious Metals Investors Act - Amends the Internal Revenue Code to treat bullion (e.g., gold, silver, platinum, and palladium) as a long-term capital asset (currently, treated as a collectible), eligible for preferential capital gains tax rates.

Status of the Legislation

Latest Major Action: 6/27/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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