SB735 creates the “Constitutional Money Act,” declaring gold and silver coins as “legal tender” while exempting them from capital-gains taxes and preventing their seizure by government entities.
The Senate passed SB735 on April 29, 2024, by a vote of 21 to 10. We have assigned pluses to the yeas because this bill is a necessary step toward restoring sound money and enforcing the U.S. Constitution’s monetary provisions. According to Article 1, Section 10, of the Constitution, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” The States can and must act now to protect Americans’ financial freedom and privacy by both ending the Federal Reserve’s unconstitutional monopoly on money and thwarting government plans to impose a Central Bank Digital Currency.