Brewer vetoes bill making gold legal tender
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Republican Gov. Jan Brewer vetoed a bill late Thursday would make Arizona the second state in the country to recognize gold and silver as legal tender.
Brewer said supporters of the measures she depreciation of the dollar issues of common concern, but she said the proposal is hastily put together does not solve the basic problems, such as how to use the precious metals trading will be taxed.
"Although I believe that concern the depreciation of the dollar as a result of an unsustainable federal deficit is reasonable, I can not support this legislation," she wrote a letter to Senate President Andy Biggs. "I believe that the provisions of this legislation, require more careful inspection and supervision of these transactions is responsible for government agencies, there should be prior coordination."
State officials had previously raised the issue of the bill. After the Republican-led housing only through an amendment from receiving the precious metal as a tax exempt revenue department.
Brewer said it is unclear whether the state will be in accordance with Senate Bill 1439 precious metals trading involves the income tax exemption. She said that this may buy and sell coin collection to the enterprise unfair tax advantages.
The bill would take effect until 2014. The sponsor of the measure, Republican Senator Chester Crandall said, including his delay to the time of the legislators, the legislative process and debate bills will be implemented next year.
Supporters say the measure would allow people to invest in gold and silver, rather than worrying about the rise and fall of the dollar.
But critics blasted the efforts as the recommendations of a far-right, only at the cash register to create confusion and chaos, as consumers and staff review and weigh the precious metals. The bill would allow people to use gold and silver as currency, as long as the businesses agreed to them.
"We do this without any reason," Democratic Senator Steve Farley told members of Congress during the debate. "This is another of those things, we get national news - and not in a good way."
Utah became the first state in 2011, so that the payment of gold or silver. In recent years, the state of South Carolina, Minnesota, North Carolina, Idaho, Colorado and other states, legislators debate cottage law. Maine Senate and House of Representatives recently rejected similar measures.
Out of favor gold pledged money during World War I, the United States and many other countries need to print more cash to pay for the war. In 1971, President Richard Nixon formally abandoned the gold standard.