Mississippi looking to lead the fight to recognize gold and silver bullion as money Mississippi goldandsilverbullion
- Gold and silver's path to regain their luster as sound money continues to move forward, with several states looking to approve legislation that would remove sales taxes on the precious metals.
However, Mississippi's proposed law also goes a few steps further as it would also remove any gain or loss on the sale or exchange of gold and silver bullion that would be included in a taxpayer's federal adjusted gross income. The league noted that Ohio is the only state currently known to hold physical gold as part of its state funds. In 2020 the Ohio Police and Fire Pension Fund approved a 5% allocation in gold, valued at $16 billion, to help diversify its portfolio and hedge against inflation.
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