Idaho
Bill Permits State Taxes Be Paid With Silver By The Associated Press
- 3/15/2010
BOISE,
Idaho (AP) — Idaho lawmakers are backing a plan
that would allow state tax bills to be paid down with silver
medallions instead of cash.
The bill approved Monday is intended to encourage
the use of silver as a form of currency and reinvigorate Idaho's
silver mining industry, which has been in decline for decades.
Athol Republican Rep. Phil Hart told the House State Affairs
Committee that consumers should rely less on money printed
by the federal government because inflation will diminish
its value. His bill reignites a long-standing debate about
the value of paper money not backed by commodities.
Hart's measure also includes tax breaks for
any company that agrees to process silver ore for the medallions.
Lawmakers in Georgia considered allowing citizens to pay taxes
with gold and silver last year.