In a high-stakes showdown with Gov. Andy Beshear over a gold and silver sales tax exemption, the Kentucky legislature has deemed his attempted line-item veto as an illegal act -- and directed the Secretary of State to enroll the exemption into law.

在與州長安迪-貝希爾就黃金和白銀銷售稅豁免問題進(jìn)行的一場高風(fēng)險(xiǎn)對(duì)決中，肯塔基州立法機(jī)構(gòu)將其試圖行使的單項(xiàng)否決權(quán)視為非法行為，并指示州務(wù)卿將該豁免納入法律。

This action makes the Bluegrass State the 45th state in the nation to enact this sound money policy – and the second this year.

這一行動(dòng)使藍(lán)草州（肯特基州的別名）成為全美第45個(gè)頒布這一穩(wěn)健貨幣政策的州，也是今年的第二個(gè)州。

Originally introduced by Rep. Steven Doan as a standalone bill, the sales tax exemption on purchases of gold, silver, platinum, and palladium coins, bars, and rounds enjoyed strong grassroots support -- thanks, in large part, to the hard work of the Sound Money Defense League, Money Metals Exchange, and in-state activists.

購買金幣、銀幣、鉑幣和鈀幣、金條和銀圓免征銷售稅最初是由眾議員史蒂文-杜安作為獨(dú)立法案提出的，該法案得到了基層民眾的大力支持，這在很大程度上要?dú)w功于健全貨幣保護(hù)聯(lián)盟、貨幣金屬交易所和州內(nèi)活動(dòng)家的辛勤工作。

Ultimately, Kentucky House and Senate leaders added the popular sound money provision into House Bill 8, an overarching revenue bill that also involved other tax matters, and sent the bill to the governor.

最終，肯塔基州眾議院和參議院領(lǐng)導(dǎo)人將廣受歡迎的健全貨幣條款納入了眾議院第8號(hào)法案，這是一項(xiàng)涉及其他稅收問題的總體收入法案，并將該法案提交給了州長。

However, Beshear, a progressive Democrat, attempted to line-item veto the sales tax exemption on Tuesday. In his veto message, he even went out of his way to smear small-time Kentucky savers (who are desperately trying to protect themselves from Bidenflation) as rich people.

然而，作為進(jìn)步民主黨人，貝希爾周二試圖對(duì)免征金銀銷售稅進(jìn)行逐項(xiàng)否決。在否決致辭中，他甚至不遺余力地將肯塔基州的小額儲(chǔ)蓄者（他們正拼命保護(hù)自己免受拜登通脹的影響）抹黑為富人。

Under the Kentucky constitution, however, governors only have a line item veto power with respect to appropriations (or spending) bills -- and HB 8 was not such a bill.

然而，根據(jù)肯塔基州憲法，州長只對(duì)撥款（或支出）法案擁有逐項(xiàng)否決權(quán)，而眾議院第8號(hào)法案并非此類。

Moreover, a formal opinion of the state’s Attorney General further affirms that a line-item veto power does not exist for revenue bills, giving further weight to the legislature’s action to deem Beshear’s veto attempt illegal.

此外，該州總檢察長的一份正式意見書進(jìn)一步確認(rèn)，對(duì)于收入法案不存在逐項(xiàng)否決權(quán)，這進(jìn)一步加強(qiáng)了立法機(jī)構(gòu)將貝希爾的否決企圖視為非法的行動(dòng)。

Once it takes effect on August 1, the sales tax exemption covers bullion as well as “coins or currency made of gold, silver, platinum, palladium, or other metal or paper money that is, or has been, used as legal tender and is sold based on its value as a collectible item rather than its value as a medium of exchange.”

一旦該法案于8月1日生效，銷售稅豁免將涵蓋金條以及“由金、銀、鉑、鈀或其他金屬或紙幣制成的硬幣或貨幣，這些硬幣或貨幣現(xiàn)在或曾經(jīng)被用作法定貨幣，并且是根據(jù)其作為收藏品的價(jià)值而不是作為交易媒介的價(jià)值出售的”。

Bill sponsor Rep. Doan explained, “Sound money is the bedrock of economic stability, ensuring the preservation of wealth and purchasing power over time. For Kentuckians and businesses in the state, sound money fosters confidence in transactions, encourages savings, and facilitates long-term investment, ultimately driving sustainable economic growth.

法案提案人眾議員杜安解釋說：“健全的貨幣是經(jīng)濟(jì)穩(wěn)定的基石，可確保財(cái)富和購買力長期保持不變。對(duì)于肯塔基州的居民和企業(yè)來說，穩(wěn)健的貨幣可以增強(qiáng)交易信心，鼓勵(lì)儲(chǔ)蓄，促進(jìn)長期投資，最終推動(dòng)可持續(xù)的經(jīng)濟(jì)增長。”

“As enshrined in the Constitution, sound money protects against the corrosive effects of inflation, safeguarding the financial well-being of individuals, families, and enterprises alike,” he continued.

他繼續(xù)說：“正如《憲法》所規(guī)定的，穩(wěn)健的貨幣可以抵御通貨膨脹的侵蝕作用，保障個(gè)人、家庭和企業(yè)的金融福祉?！?/b>

“Kentucky lawmakers finally listened to the overwhelming grassroots pressure and common sense and got this done,” said Jp Cortez, executive director of the Sound Money Defense League. “Sound money is a winning political issue, the voters want it, and our nation desperately needs it.”

“肯塔基州的立法者們最終聽取了絕大多數(shù)基層民眾的呼吁和常識(shí)，完成了這項(xiàng)工作，”健全貨幣保護(hù)聯(lián)盟執(zhí)行董事Jp科爾特斯說?！敖∪泿攀且粋€(gè)成功的政治議題，選民需要它，我們的國家也迫切需要它?！?/b>
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Including Kentucky, eight states in the last three years have enacted laws to reduce or eliminate the sales tax on purchases of precious metals (Wisconsin and Kentucky in 2024, Mississippi in 2023, Tennessee, Alabama, and Virginia in 2022, and Arkansas and Ohio in 2021).

包括肯塔基州在內(nèi)，過去三年中已有八個(gè)州頒布法律，降低或取消購買貴金屬的銷售稅（威斯康星州和肯塔基州于2024年，密西西比州于2023年，田納西州、阿拉巴馬州和弗吉尼亞州于2022年，阿肯色州和俄亥俄州于2021年）。

Kentucky had been completely surrounded by states that had already ended this controversial tax.

肯塔基州完全被已終止征收這一有爭議稅種的州所包圍。

Ending the sales tax on purchases of gold and silver is good policy for several reasons:

出于以下幾個(gè)原因，取消購買黃金和白銀的銷售稅是一項(xiàng)好政策：

1. Other types of savings or investments do not carry a sales tax.

1、其他類型的儲(chǔ)蓄或投資已經(jīng)不再被征收銷售稅。

Gold and silver are held as forms of savings and investment. Kentucky already does not assess a sales tax on the purchase of stocks, bonds, ETFs, real estate, currencies, and other financial instruments.

黃金和白銀作為儲(chǔ)蓄和投資的一種形式。肯塔基州已經(jīng)不對(duì)購買股票、債券、ETF、房地產(chǎn)、貨幣和其他金融工具征收銷售稅。
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2. Levying sales taxes on precious metals makes no sense because they held for resale.

2、對(duì)貴金屬征收銷售稅毫無意義，因?yàn)橘F金屬是用于流通的。

Sales taxes are typically levied on final consumer goods. Computers, shirts, and shoes carry sales taxes because the consumer is “consuming” the good. Precious metals are inherently held for resale, not “consumption,” making the imposition of sales taxes on precious metals illogical from the start.

銷售稅通常是針對(duì)最終消費(fèi)品征收的。電腦、襯衫和鞋子征收銷售稅是因?yàn)橄M(fèi)者在“消費(fèi)”商品。貴金屬本質(zhì)上是用于流通，而不是“消費(fèi)”，因此對(duì)貴金屬征收銷售稅從一開始就不合邏輯。

3. Studies have shown that taxing precious metals is an inefficient form of revenue collection.

3、研究表明，對(duì)貴金屬征稅是一種低效的稅收方式。

The results of a Michigan study, for example, demonstrated that any sales tax proceeds a state collects on precious metals may be surpassed by the state revenue lost from conventions, businesses, and economic activity that are driven out of the state.

例如，密歇根州的一項(xiàng)研究結(jié)果表明，該州對(duì)貴金屬征收的任何銷售稅收益都可能被會(huì)議、企業(yè)和經(jīng)濟(jì)活動(dòng)被趕出該州而損失的州收入所超過。

4. Taxing gold and silver harms in-state businesses.

4、對(duì)黃金和白銀征稅會(huì)損害州內(nèi)企業(yè)。
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It’s a competitive marketplace, so buyers will take their business to neighboring states, thereby undermining jobs. By going elsewhere, investors can easily avoid paying $132 in sales taxes, for example, on a $2,200 purchase of a one-ounce gold bar.

這是一個(gè)競爭激烈的市場，因此買家會(huì)將業(yè)務(wù)轉(zhuǎn)移到鄰州，從而影響就業(yè)。以購買一塊一盎司的金條為例，如果投資者去其他地方購買，就可以輕松規(guī)避2200美元的銷售稅。

5. Gold and silver are the only money mentioned in the U.S. Constitution.

5、金銀是美國憲法中唯一提到的貨幣。

Article 1, Section 10 states that “no state shall make any Thing but Gold and Silver a tender in payment of debts.” Exchanging one form of U.S. money for another should not be a taxable event.

《憲法》第1條第10款的規(guī)定：“除金銀外，任何州不得將其他任何物品作為償債貨幣”。用一種形式的美國貨幣換取另一種形式的美國貨幣不應(yīng)被征稅。

6. Taxing precious metals is harmful to small-time savers.

6、對(duì)貴金屬征稅不利于小額儲(chǔ)蓄者。

Purchasers of precious metals aren’t generally fat-cat investors. Most who buy precious metals do so in small increments as a way of saving money. Inflation harms everyone, but especially pensioners, wage earners, savers, and small business folks.

購買貴金屬的人一般都不是富豪投資者。大多數(shù)購買貴金屬的人都是小額儲(chǔ)蓄者。通貨膨脹對(duì)每個(gè)人都不利，尤其是養(yǎng)老金領(lǐng)取者、工薪階層、儲(chǔ)蓄者和小商人。

“We’re nowhere near done. Politicians in the remaining ‘hold-out states’ – New Jersey, Maine, Vermont, Hawaii, and New Mexico – should expect to hear from sound money activists and constituents very soon,” added Stefan Gleason, CEO of Money Metals and Chairman of the Sound Money Defense League.

“我們的工作還遠(yuǎn)遠(yuǎn)沒有結(jié)束?！必泿沤饘俳灰坠臼紫瘓?zhí)行官兼健全貨幣保護(hù)聯(lián)盟主席斯特凡-格里森補(bǔ)充說：“剩下的‘拒之門外的州’--新澤西州、緬因州、佛蒙特州、夏威夷州和新墨西哥州--的政治家們應(yīng)該很快就會(huì)聽到健全貨幣活動(dòng)家和選民們的聲音?！?/b>

It’s still possible that New Jersey could become the third state to end sales taxes on precious metals this year. Such a bill has already passed through the New Jersey Senate.

新澤西州仍有可能成為今年第三個(gè)取消貴金屬銷售稅的州。新澤西州參議院已經(jīng)通過了這樣一項(xiàng)法案。

More than two dozen other states have considered pro-sound money legislation in 2024 so far, including Alaska, Indiana, Iowa, Georgia, Kansas, Missouri, Idaho, Arizona, Utah, New Hampshire, Oklahoma, Nebraska, Kansas, Vermont, West Virginia, and Wisconsin.

到目前為止，還有二十多個(gè)州考慮在2024年支持健全貨幣立法，包括阿拉斯加州、印第安納州、愛荷華州、佐治亞州、堪薩斯州、密蘇里州、愛達(dá)荷州、亞利桑那州、猶他州、新罕布什爾州、俄克拉荷馬州、內(nèi)布拉斯加州、堪薩斯州、佛蒙特州、西弗吉尼亞州和威斯康星州。

Kentucky was tied for 45th out of 50 in the 2024 Sound Money Index. Enactment of this measure is expected to boost the state’s ranking dramatically.

肯塔基州在2024年健全貨幣指數(shù)的50個(gè)國家中并列第45位。這項(xiàng)措施的頒布有望大幅提升肯塔基州的排名。

As of this writing, it’s unclear whether Governor Beshear will file suit against the legislature for refusing to accept his line-item veto as valid.

截至本文撰寫之時(shí)，尚不清楚州長貝希爾是否會(huì)對(duì)議會(huì)拒絕接受其有效的單項(xiàng)否決提起訴訟。