Restore Sound Money in Iowa With HF 659

Members of the Iowa General Assembly are seeking to enact legislation to help restore sound money.

House File 659 (HF 659) was originally introduced as 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 2024 session.

If enacted, HF 659 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.

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, HF 659 is a good first step 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 659 is a good step toward doing this on the topic of monetary policy.

Urge your state representative and senator to support HF 659, and to fully restore sound money in Iowa.