Arizona governor vetoes bill making gold, silver legal tender

[AmericasLastHope]

(Reuters) - Arizona Governor Jan Brewer vetoed a measure on Thursday that would have made gold and silver legal tender in the state, saying the legislation could have resulted in lost tax revenue.

The Republican-controlled state legislature voted through the measure last month in a response to what backers said was a lack of confidence in the international monetary system.

The bill called for Arizona to make gold and silver coins and bullion legal tender beginning in mid-2014, joining existing U.S. currency issued by the federal government.

"While I believe the concern over a devalued dollar as a result of an unsustainable federal deficit is justified, I am unable to support this legislation," Brewer, a Republican, said in an open letter to state Senate President Andy Biggs.

Brewer noted that the "administrative and fiscal burdens" for taxpayers and the revenue department "remain vague." She also cited uncertainty over whether the legislation would have required the state to exempt transactions involving collectable coins and bills that were authorized by Congress and could be used as legal tender.

"This would result in lost revenue to the state, while giving businesses that buy and sell collectable coins or currency originally authorized by Congress an unfair tax advantage," she said.

The push to establish gold and silver as currency has become increasingly popular in the United States in recent years among some hardline fiscal conservatives, with the backing of groups including the Tea Party movement, American Principles Project and the Gold Standard Institute.

Senator Chester Crandell, a Republican and sponsor of the bill, previously said the ability to use gold and silver in everyday life in the state was still a "work in progress" and that more legislation was needed before it could be viable. He could not immediately be reached for comment.

Democratic state Senator Steve Farley, an opponent of the measure who had warned it could create massive problems for businesses and government officials trying to administer what would in effect be a dual monetary system, welcomed the veto.

"I was very pleased the governor showed the common sense to realize this was a terrible move for Arizona that would have caused incredible negative consequences at a government and business level," Farley told Reuters.

Had Brewer signed the measure, Arizona would have become the second state in the nation to establish the precious metals as legal tender. Utah approved such legislation in 2011.

http://www.reuters.com/article/2013/05/03/us-usa-arizona-gold-idUSBRE94202M20130503

 

[sailingaway]

so despite the fact that the legislature passed such a 'tax decrease'.....

 

[The Goat]

while giving businesses that buy and sell collectable coins or currency originally authorized by Congress an unfair tax advantage

Biggest BS reason I've ever heard.

 

[heavenlyboy34]

For some reason she remains rather popular among self-proclaimed conservatives here in AZ.

 

[supermario21]

Statist Arizona Gov. Brewer vetoes bill recognizing gold and silver as legal tender

Bad day for liberty.

PHOENIX (Reuters) - Arizona Governor Jan Brewer vetoed a measure on Thursday that would have made gold and silver legal tender in the state, saying the legislation could have resulted in lost tax revenue.
The Republican-controlled state legislature voted through the measure last month in a response to what backers said was a lack of confidence in the international monetary system.
The bill called for Arizona to make gold and silver coins and bullion legal tender beginning in mid-2014, joining existing U.S. currency issued by the federal government.
"While I believe the concern over a devalued dollar as a result of an unsustainable federal deficit is justified, I am unable to support this legislation," Brewer, a Republican, said in an open letter to state Senate President Andy Biggs.
Brewer noted that the "administrative and fiscal burdens" for taxpayers and the revenue department "remain vague." She also cited uncertainty over whether the legislation would have required the state to exempt transactions involving collectable coins and bills that were authorized by Congress and could be used as legal tender.
"This would result in lost revenue to the state, while giving businesses that buy and sell collectable coins or currency originally authorized by Congress an unfair tax advantage," she said.
The push to establish gold and silver as currency has become increasingly popular in the United States in recent years among some hardline fiscal conservatives, with the backing of groups including the Tea Party movement, American Principles Project and the Gold Standard Institute.
Senator Chester Crandell, a Republican and sponsor of the bill, previously said the ability to use gold and silver in everyday life in the state was still a "work in progress" and that more legislation was needed before it could be viable. He could not immediately be reached for comment.
Democratic state Senator Steve Farley, an opponent of the measure who had warned it could create massive problems for businesses and government officials trying to administer what would in effect be a dual monetary system, welcomed the veto.
"I was very pleased the governor showed the common sense to realize this was a terrible move for Arizona that would have caused incredible negative consequences at a government and business level," Farley told Reuters.
Had Brewer signed the measure, Arizona would have become the second state in the nation to establish the precious metals as legal tender. Utah approved such legislation in 2011.

 

[TheTexan]

Cunt bitch

 

[jclay2]

Score one for the bankers.

 

[Cleaner44]

"This would result in lost revenue to the state, while giving businesses that buy and sell collectable coins or currency originally authorized by Congress an unfair tax advantage," she said.

Gee... we sure wouldn't want that to happen would we? Obviously the state's needs for revenue supersedes that of the citizens. Well done my conservative governor.

Stupid bitch.

 

[ClydeCoulter]

Does the legislature have the authority to override, and do they have the numbers?

 

[fr33]

When she pointed her finger at Obama it was because she agreed with him.

 

[tsai3904]

Does the legislature have the authority to override, and do they have the numbers?

Veto override would need 2/3 vote in the House and Senate.

It passed with 62.1% in the House and 60.7% in the Senate.

 

[J_White]

"This would result in lost revenue to the state, while giving businesses that buy and sell collectable coins or currency originally authorized by Congress an unfair tax advantage," she said.

oh, so only the Federal Reserve and its buddy bankers should have unfair advantage, right ?

 

[speciallyblend]

Hillary/Brewer 2016

 

[ClydeCoulter]

Veto override would need 2/3 vote in the House and Senate.

It passed with 62.1% in the House and 60.7% in the Senate.

Close, AZ needs to get active.

 

[gwax23]

Veto override would need 2/3 vote in the House and Senate.

It passed with 62.1% in the House and 60.7% in the Senate.

Thats not that bad. A Override is certainly possible.

 

[pmbug]

Her reasoning is weak. Very weak. She sounds like a spineless squishy. Probably right at home with Arizona's resident squishy Senator.

 

[Lucille]

Anyone who thought she'd sign that into law doesn't know Jan.

 

[tod evans]

Was she backing down or bending over?

 

[DamianTV]

How the hell can that even be legal when the Constitution explicitly says nothing BUT Gold and Silver...?

 

[ctiger2]

Jan Brewer has revealed she is no friend of liberty.