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Nebraska passes sound money bill

May 12, 2024 | Image source | Nebraska is the 12th state to end capital gains taxes on sales of gold and silver. LB 1317 also revised Nebraska’s definition of money stating, “Money does not include central bank digital currency.”

Bill sponsor Senator Hansen said, “I believe we have to be extra vigilant in our assessment and application of a Central bank digital currency to make sure they do not become a danger to our freedom. That’s why we defined in LB 1317 that CBDC’s are not classified as currency in Nebraska, which should help protect against unwarranted mandates for their use in the future.”

Kentucky, Utah, and Wisconsin have enacted similar sound money legislation this year. Anti CBDC measures have passed in Florida, Indiana, South Dakota, and Tennessee, as state lawmakers work to protect the public from increasing federal debt.

Gold and silver are the only forms of currency mentioned in our Constitution and with that comes the people’s ability to use it as such without penalty from the government. Saving, and using, gold and silver is our right and one of the only checks and balances to our federal government’s unending devaluation of our paper currency.

-Nebraska Senator Ben Hansen

 

At the federal level, U.S. Representative Alex Mooney of West Virginia reintroduced the Monetary Metals Tax Neutrality Act, which would remove federal income tax from silver and gold coins and bullion.

 


 

Nebraska Ends Income Taxes on Gold and Silver, Declares CBDC’s Are Not Lawful Money | Mises Institute

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