CHEYENNE, Wyo. (Mar. 8, 2018) – Today, the Wyoming House gave final approval to a bill that would define gold and silver specie as legal tender and eliminate all taxes levied on it. Final passage into law would pave the way for the use of gold and silver in everyday transactions and could help undermine the Federal Reserve’s monopoly on money.
A bipartisan coalition of 11 Republicans introduced House Bill 103 (HB103) on Feb. 15. Titled the Wyoming Legal Tender Act, the legislation defines gold and silver specie as “legal tender,” meaning it would be recognized as a medium of exchange for the payment of debts and taxes in the state. Practically speaking, gold and silver specie would be treated as money, putting it on par with Federal Reserve notes in Wyoming.
The bill defines specie as coins having gold or silver content, or refined bullion, coined, stamped or imprinted with its weight and purity.
HB103 would also prohibit the state or local governments from levying any property, sales of capital gains taxes on gold or silver specie. Wyoming does not have an income tax. However, it does have a sales tax and it assesses this …
Read more at The Tenth Amendment Center
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