A report in the Spokane Spokesman-Review focuses on Idaho state representative Phil Hart, a Republican who has introduced a bill that would allow residents to pay their state taxes with silver currency.
The currency would reportedly be minted within the state and the legislation would also provide tax incentives for any company that set up a silver processing facility in the state, including for manufacturing the silver medallions that would be used under the bill.
The newspaper noted that the House State Affairs Committee in recent days had unanimously approved the introduction of the bill to the full house.
By introducing the legislation, Hart is aiming to help boost Idaho's silver mining industry, which has suffered along with many other industries in the current economy.
Elsewhere, an Associated Press report notes that last year, Georgia state lawmakers considered a similar measure that would have allowed residents to pay their taxes with gold and silver.
More recently, a South Carolina state lawmaker, Mike Pitts, made national news earlier this year with his own legislation that would require gold and silver coins to be used for state debts, as opposed to currency from the federal government.
In explaining his own proposal, Pitts has told media outlets that he is motivated by concern about runaway government spending, which could result in serious financial problems in the coming years.
Around the world, concern has been rising about the sovereign debt issues and large budget deficits being maintained by many countries. So far, Greece has been the latest poster child for this situation after Dubai's financial situation called attention last year to the problems posed by large deficits.
Spain and Portugal have also been generating worldwide news for their looming debt problems, but there has also been increased attention focused on the United States. While U.S. officials have repeatedly maintained that the government will never default on its debt, the national debt is now approaching $14 trillion and costs hundreds of billions of dollars per year just to finance.
Given the recent track record of out of control spending and the serious financial repercussions that will eventually present themselves if government spending is not properly addressed, now may be a good time to consider dealer gold as a financially stable long-term investment.
