Gov. Jan Brewer Vetoes Arizona Gold and Silver BillSubmitted by pil45 on Fri, 05/03/2013 - 08:41
Seems to me like she vetoed it because it would be hard to regulate. These clowns cant even fathom an idea that is unregulated by government.
" 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 system.
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 government.
"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 Biggs.
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.
"This 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.