AUSTIN, Texas (March 7, 2017) – A joint resolution introduced in the Texas House proposes a state constitutional amendment to guarantee the right to own, hold and use any mutually agreed upon medium of exchange. Passage of the bill would take another step toward undermining the Federal Reserve’s monopoly on money.
Rep. Matt Schaefer (R-Tyler) introduced House Join Resolution 89 (HJR89) on March 2. If passed, the resolution would place a constitutional amendment on the ballot recognizing the right of the people to own, hold, and use a mutually agreed upon medium of exchange, including cash, coin, bullion, digital currency, or privately issued scrip. The proposal would add the following language to the Texas state constitution.