Monetary Metals Tax Neutrality Act

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U.S. Representative Alex Mooney (R-WV) has re-introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion.

The Monetary Metals Tax Neutrality Act (H.R. 8279) backed by the Sound Money Defense League, Money Metals Exchange, and free-market activists – would clarify that the sale or exchange of precious metals bullion and coins are not to be included in capital gains, losses, or any other type of federal income calculation. Gold and silver would be treated as a non-entity for tax purposes, putting it on par with the U.S. dollar.

Reps. Scott Perry (R-PA) and Randy Weber (R-TX) joined as original cosponsors.

“My view, which is backed up by language in the U.S. Constitution, is that gold and silver coins are money and are legal tender,” Rep. Mooney said.

“If they’re indeed U.S. money, it seems there should be no taxes on them at all. So, why are we taxing these coins as collectibles?”
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https://www.soundmoneydefense.org/n...nd-federal-taxation-on-gold-and-silver-000544

I was pleasantly surprised to see that my Congressman, Randy Weber is a co-sponsor of the bill. For those who don't know, I'm in Ron Paul's old district and Weber succeeded Dr. Paul when he retired.

The Sound Money Defense League and other groups have been really active over the last year or two getting State to enact similar legislation at the State level. Would be great if people contacted their DC Reps and told them to support this bill.