On May 30, 2025, the Texas House delivered a resounding victory for economic sovereignty by voting to concur with Senate amendments to House Bill 1056, the Transactional Gold Bill. This historic legislation recognizes gold and silver specie as legal tender and establishes a transactional currency based on these precious metals, offering Texans a genuine alternative to the failing Federal monetary system.
The bill now sits on Governor Abbott’s desk, representing the closest Texas has ever come to establishing its own currency—a fundamental building block for the independent Republic of Texas that growing numbers of Texans envision through TEXIT.
Breaking Free from Federal Monetary Control
HB1056, sponsored by Representative Dorazio in the House and Senator Hughes in the Senate, does more than simply recognize precious metals as legal tender. The legislation authorizes the Texas Bullion Depository to issue a digital currency backed by gold and silver, creating a practical system that Texans can use for everyday purchases and debt payments.
Under the bill’s provisions, the Comptroller of Public Accounts will oversee currency issuance and ensure that specie holders can readily transfer or use this alternative currency. With implementation set for September 1, 2026, and specific provisions taking effect as early as May 1, 2026, Texas is positioned to lead the nation in monetary innovation.
This isn’t about creating novelty coins for collectors. This is about giving hardworking Texans protection from the Federal Government’s reckless monetary policies that have decimated the purchasing power of the dollar and enriched Wall Street at the expense of Main Street.
A Foundation for Texas Independence
The Texas Nationalist Movement has championed HB1056 because we understand what the political establishment refuses to acknowledge: economic independence is essential for political independence. You cannot have true self-government when your monetary system is controlled by unelected Federal bureaucrats who couldn’t care less about the prosperity of Texas families.
The passage of HB1056 represents a critical step in the Texit process,” said TNM President Daniel Miller. “This legislation is a clear sign that Texas is becoming more structurally and functionally like a self-governing independent nation. When Texas establishes its own currency system, we’re not just creating an alternative to Federal monetary policy. We’re building the economic infrastructure that an independent Republic of Texas will need. Every component we put in place now makes the transition to independence smoother and demonstrates to Texans that we already possess the capability to govern ourselves effectively.”
While an independent Texas might initially use the U.S. dollar for stability during transition, establishing our own currency system is a long-term necessity. HB1056 creates the infrastructure for that future, positioning Texas alongside states like Utah and Oklahoma that have already recognized the importance of monetary freedom.
The Political Reality
The bill’s journey through the Legislature reveals both growing support for Texas independence and the resistance of those who benefit from the status quo. Committee votes in the House State Affairs Committee (10 Ayes, 5 Nays) and the Senate Finance Committee (9 Ayes, 6 Nays) show that while support is strong, the political establishment still harbors those who would keep Texas shackled to a failing Federal system.
Critics will undoubtedly raise concerns about precious metal price volatility or implementation challenges. These are the same voices that have defended a Federal monetary system that has seen the dollar lose over 95% of its purchasing power since the creation of the Federal Reserve. They offer no solutions, only excuses for continued dependence.
Building Momentum for TEXIT
HB1056’s passage represents another major milestone in the growing movement for Texas independence. Combined with the inclusion of a call for a Texas independence referendum in the Republican Party of Texas’s 2024 platform and the election of ten state legislators who signed the TNM’s “Texas First Pledge,” we are witnessing the political infrastructure for Texit taking shape.
Economic sovereignty, political sovereignty, and cultural sovereignty are interconnected. You cannot preserve one without securing the others. HB1056 addresses the economic component by giving Texans the tools to protect their wealth from Federal mismanagement and inflation.
The Path Forward
Governor Abbott now faces a choice that will define his legacy. He can sign HB1056 and position Texas as a leader in monetary freedom, or he can veto it and align himself with the Federal establishment that has consistently failed Texas.
The fiscal note estimates implementation costs of $5.5 million through August 2027, a minuscule investment compared to the $103 billion that Texas overpays into the Federal system annually. This is about Texas taking control of its future, not counting pennies for Washington bureaucrats.
What This Means for Texans
If signed into law, HB1056 will give every Texan the opportunity to protect their wealth with money that has held value for thousands of years. Gold and silver cannot be printed into worthlessness by politicians desperate to fund their latest spending spree. This is real money for real Texans who work hard for every dollar.
More importantly, this legislation demonstrates that Texas can and will act independently when the Federal Government fails to serve our interests. Whether it’s securing our border, protecting our energy sector, or now establishing our own currency, Texas continues to prove that we don’t need Washington’s permission to govern ourselves effectively.
The passage of HB1056 is more than a legislative victory. It’s a declaration that Texas is preparing for the independence that more and more Texans recognize as inevitable. When the Federal system finally collapses under the weight of its own incompetence and corruption, Texas will be ready.
Now we wait to see if Governor Abbott will stand with Texas or continue his pattern of promising much and delivering little. The people of Texas are watching, and we will remember his choice.
The future Republic of Texas is closer than ever. HB1056 is another step on that journey.
