This is OUTRAGEOUS -- a "Republican" vetoing a bill that (a) would have moved Arizona closer to obeying the U.S Constitution (Article I, Section 10) and (b) would have ended up increasing overall revenue for the State. And why? Because it "would result in lost revenue to the state" and give an "unfair tax advantage" to some businesses that deal in this money.
Gov. Brewer obviously doesn't know anything about (a) the U.S. Constitution or (b) economics.
Oh, and who praised her veto? A leading Democrat, of course.
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
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
"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
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.
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.
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.
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.
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.
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