HB1056 creates a transactional currency backed by “gold and silver,” and recognizes it as “legal tender.”
The House passed HB1056 on May 30, 2025, by a vote of 101 to 32. We have assigned pluses to the yeas because this bill brings Texas closer to restoring sound money and adhering to the U.S. Constitution’s monetary provisions. Article 1, Section 10, of the Constitution says that “No State shall … make any Thing but gold and silver Coin a Tender in Payment of Debts.” States can and need to 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.
