Pay Taxes in Silver? Idaho Is Thinking About It

Source:

"Bill clears House with Thursday's 5114 vote."

The Idaho state treasurer would have to accept a state-made silver medallion or bar for the payment of fees and taxes, if a bill that's cleared the House becomes law.

It now heads to the Senate.

Conservative northern Idaho lawmakers, including Rep. Phil Hart, the Republican sponsor, hope to accomplish two things: 1) revive their region's mining economy's glory days and 2) get a foot in the door toward replacing standard American currency with precious metals, or so-called "constitutional money."

That appeals to those leery of the U.S. Federal Reserve.

With Thursday's 5114 vote, Hart's bill has made it further than one he backed a year ago that stalled in the House Revenue and Taxation Committee.

Idaho isn't alone: Georgia lawmakers considered allowing citizens to pay taxes with gold and silver last year.

Related Articles

Get Our Streetwise Reports Newsletter Free

A valid email address is required to subscribe