Arizona lawmakers back gold, silver as currency
Photographer: ABC15
Copyright 2011 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 03/18/2013
-
By: Associated Press
PHOENIX - Arizona Republican lawmakers say privately minted gold and silver coins should be considered legal tender.
The bill advanced in a 4-2 vote by a House committee Monday states that gold and silver is money and therefore shouldn't be subject to tax or regulation as property.
Proponents say the value of the dollar is on the decline. Businesses wouldn't be required to accept gold or silver under the bill.
Democrats oppose the measure. They say it would be a bureaucratic nightmare because businesses don't have the equipment to determine the value of gold and silver.
They also say the measure is Arizona's latest jab at the federal government, which prohibits states from minting their own money.
The bill passed in the Republican-led Senate in February in a 17-11 vote.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
PRINT- Your Region News
Click on the region names in the map below to see news from that region.
RIGHT NOW: Top Stories
-
PD: Vehicle that hit officer located
Police say they are now working to identify the driver of the vehicle that struck and killed Officer Daryl Raetz early Sunday morning.
-
I-17 reopens after police situation
The Department of Public Safety says one person has been taken into custody after apparently threatening to jump off the Northern Avenue overpass.
-
NOW: Billboard Music Awards
They battle it out weekly on the Billboard charts, and now they're competing at the Billboard Music Awards.
-
ABC15 exclusive: Cards' Carson Palmer
“There’s a handful of teams that win with defense, but a lot of teams, the teams that win, are the teams that are aggressive.”
-
Last Chance! Win iPad Mini from ABC15
You're just 15 Facebook likes from having a chance at one of 15 iPad minis!
-
Tornadoes touch down in Kansas, Okla.
A confirmed tornado was seen near Edmond, Oklahoma, moving east at about 30 miles per hour, said the weather service.
