Listen to the Audio Mises Wire version of this article. More state lawmakers than ever are introducing sound money legislation in the opening days of the 2021 legislative session. Several states will consider measures to remove sales or general excise taxes on the purchase of gold, silver, and other precious metals. Many other states will
With Governor Kay Ivey’s signature on sound money legislation today, Alabama has become the second state this year to expand its sales tax exemption involving gold and silver. Alabama Senate Bill 13, championed by Sen. Tim Melson and Rep. Jamie Kiel, passed with unanimous support out of the Alabama Senate and then passed unanimously through the
As state legislatures clear out and head home for the summer, one reality has emerged: Sound money is a winning issue in the states. At a time of record-high inflation and geopolitical uncertainty across the globe, states are wisely taking steps to better enable citizens to acquire, sell, and/or use gold and silver. Last year, Arkansas and Ohio
Utah Governor Spencer Cox has signed legislation explicitly empowering the state treasurer to protect state funds with an allocation to physical gold and silver. Sponsored by Rep. Ken Ivory, House Bill 348 permits – but does not require – the Treasurer to hold up to 10 percent of certain state reserve accounts in physical gold and silver to help
Responding to an overwhelming groundswell of grassroots pressure, Gov. Tony Evers today signed a bill into law that secures Wisconsin’s place as the 44th state in America to end sales taxes on the purchase of precious metals. Assembly Bill 29 and Senate Bill 33, carried by Rep. Sortwell and Sen. Stroebel, respectively, enjoyed strong bipartisan
Two weeks ago, during a March 17 address to the nation in response to the COVID-19 outbreak, President Donald Trump asked that Americans work from home, postpone unnecessary travel, and limit social gatherings to no more than 10 people. And last week, on March 27, Trump signed a stimulus package of over $2 trillion dollars to provide relief to an
Alabama Governor Kay Ivey signed a bill on May 17 that removes all income taxes on capital gains from the sale of gold and silver, enabling the state to take an important step forward in reinforcing sound money principles. With this move, Alabama joins a growing number of states prioritizing the protection of citizens against the deleterious
(Frankfort, Kentucky) -- In a high-stakes showdown with Gov. Andy Beshear over a gold and silver sales tax exemption, the Kentucky legislature has deemed his attempted line-item veto as an illegal act -- and directed the Secretary of State to enroll the exemption into law. This action makes the Bluegrass State the 45th state in the nation to enact
U.S. Representative Alex Mooney (R-WV) has re-introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion. The Monetary Metals Tax Neutrality Act (H.R. 8279) backed by the Sound Money Defense League , Money Metals Exchange, and free-market activists – would clarify that the sale or exchange of
With Gov. Jim Pillen’s recent signature, Nebraska has become the 12th state to end capital gains taxes on sales of gold and silver. LB 1317 is the fourth major sound money bill to become law this year, as state lawmakers across the nation scramble to protect the public from the ravages of inflation and runaway federal debt. Under the new Nebraska
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
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