ACT NOW: The Iowa House of Representatives passed sound-money bill HF 2626 by a 63-32 vote. This important bill now heads to the state Senate for consideration. Also, three other sound-money bills are pending in the General Assembly. Urge your state senator to support and enact HF 2626, and urge both your representative and senator to also support and enact HF 2229, SF 2273, and SF 2108.
Members of the Iowa General Assembly are seeking to enact legislation to help restore sound money.
House File 2229 (HF 2229) and Senate File 2273 (SF 2273) are respectively sponsored by Representative Bill Gustoff (R-Polk County) and Senator Kevin Alons (R-Salix). If enacted, it would officially recognize gold and silver coins as legal tender and eliminate all taxes on gold and silver — thus bringing Iowa closer to constitutional compliance and treating gold and silver as money.
House File 2626 (HF 2626) was originally introduced as HF 659 and HF 208 by Representative Jeff Shipley (R-Fairfield). Originally introduced during the 2023 session, HF 659 was placed on the unfinished business calendar, meaning it can be considered during the current 2024 session. On January 31, 2024, a subcommittee of the House Ways and Means Committee passed HF 659.
If enacted, HF 2626 would exempt gold and silver bullion and coins from state capital-gains taxes. This is an important step toward treating gold and silver as money — as the U.S. Constitution requires.
Meanwhile, Senate File 2108 (SF 2108) is sponsored by Senator Kevin Alons and 14 other senators. If enacted, SF 2108 would create a state-issued gold or silver transactional currency, as well as a bullion depository. Furthermore, the bill would authorize this currency as legal tender — a major step toward nullifying the Federal Reserve’s monopoly on currency. On February 7, 2024, a Senate subcommittee recommended SF 2108 for passage.
Article I, Section 10, of the U.S. Constitution plainly states that “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” It’s long overdue that states begin to enforce this provision once again.
Additionally, these bills are great first steps toward nullifying the unconstitutional Federal Reserve, which has a monopoly on money.
Article VI of the U.S. Constitution obligates state officials to uphold the Constitution and nullify all laws not “made in Pursuance” of it. Officials at all levels of government must push back against the federal government’s many unconstitutional laws and agencies, and robustly enforce the Constitution and only those laws “made in Pursuance thereof.” HF 2229, SF 2273, HF 2626, and SF 2108 are great steps toward doing this on the topic of monetary policy.
Urge your state representative and senator to support HF 2229, SF 2273, HF 2626, and SF 2108, and to fully restore sound money in Iowa.
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