https://www.einnews.com/pr_news/435728627/wyo...e-passes-bil...
CHEYENNE, Wyoming -- Following a 44-14 vote in the Wyoming House last
week, the Wyoming State Senate today overwhelmingly approved a bill that
helps restore constitutional, sound money in Wyoming.
Wyoming senators voted 25-5 to pass the Wyoming Legal Tender Act (House
Bill 103), sending the measure introduced by Rep. Roy Edwards, R-Gillette, to
Gov. Matt Mead’s desk. Sound money activists are already contacting Governor
Mead urging that he sign the bill.
Backed by the Sound Money Defense League, Campaign for Liberty, and Money
Metals Exchange, HB 103 is a bill that removes all state taxation from gold
and silver bullion and reaffirms their legal tender status in Wyoming, in
keeping with Article 1, Section 10 of the U.S. Constitution.
Testifying before the Senate Minerals, Business, and Economic Development
Committee, Sound Money Defense League Policy Director J.P. Cortez made the
case to Wyoming legislators that assessing taxes on purchases of gold and
silver is unjust and undermines their constitutional status as money.
Representative Edwards said in support of HB 103, "Imagine going to
the grocery store and asking the clerk for change for a $20 bill and being
charged 80 cents in tax. That's what we're doing in Wyoming by charging sales
taxes on precious metals and we're taking steps to change that."
Wyoming does not have an income tax. However, it does have a sales tax and
it assesses this tax against precious metals bullion. If Governor Mead signs HB
103, Wyoming would join all its neighboring states (South Dakota, Idaho,
Utah, Colorado, Nebraska) and more than 30 other states that do not assess a
sales tax against precious metals.
Other states have eliminated income taxation on gold and silver (Arizona
and Utah) or have established precious metals depositories to help citizens
save and transact in gold and silver bullion (Texas).
Cortez's testimony highlighted the harmful effects of inflation that flow
from the Federal Reserve System and explained how erecting barriers to
precious metal ownership harms those most vulnerable to currency debasement
-- wage earners, savers, those on a fixed income -- and local business owners
who lose business to out-of-state dealers that don't subject buyers to unfair
taxation.
"Governor Mead should sign the Wyoming Legal Tender Act into law
without delay and help Wyoming businesses as well as all citizens harmed by
inflation," Cortez said.
The Sound Money Defense League is an Idaho-based public policy group
working nationally to bring back gold and silver as America's constitutional
money. For comment or more information, call 1-208-577-2225 or email target="_blank" jp.cortez@soundmoneydefense.org.
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