The Texas House of Representatives is scheduled to vote on House Bill 1056 (HB1056) this Wednesday, April 30, a measure that would establish a state-issued currency backed by gold and silver through the Texas Bullion Depository.
The bill, sponsored by Representative Mark Dorazio and supported by more than 80 coauthors, passed the House State Affairs Committee on April 16 with a 10-5 vote, signaling strong support among Texas lawmakers for an alternative monetary system.
HB1056 represents one of the most significant economic steps toward Texas independence in recent years, granting the state control over a fundamental aspect of sovereignty that has been monopolized by the Federal Reserve for generations.
“Monetary independence is inseparable from true political independence,” said TNM President Daniel Miller. “This legislation creates a practical framework for Texas to exercise economic self-determination, a critical component on our path to full sovereignty.”
The bill would amend Chapter 2116 of the Texas Government Code to authorize the Texas Comptroller to issue both physical gold and silver coins (specie) and an electronic currency representing precious metals held in the state’s bullion depository.
Key provisions include legal tender status within Texas, 100% backing of all currency with physical gold and silver, and options for currency holders to redeem their holdings for U.S. dollars or physical precious metals.
A companion bill, Senate Bill 2002, has been introduced by Senator Bryan Hughes and is currently under review in the Senate Finance Committee, demonstrating coordinated efforts to advance the legislation through both chambers.
Supporters point to Article I, Section 10 of the U.S. Constitution, which permits states to use gold and silver as legal tender, as the legal foundation for the measure.
“Nations are defined by their borders, their people, and their currency,” noted Miller. “With our own gold-backed money, Texas would take a concrete step toward functioning as an independent economic entity, capable of withstanding monetary instability caused by Federal policies.”
If passed by both chambers and signed into law, HB1056 would take effect on September 1, 2025, positioning Texas at the forefront of a national movement toward monetary sovereignty and establishing critical infrastructure that would prove invaluable in a future independent Texas.
The Texas Nationalist Movement encourages citizens who support Texas independence to contact their representatives before Wednesday’s vote to express their support for this landmark legislation.
