CHARLOTTE, NORTH CAROLINA / ACCESS Newswire / August 14, 2025 / One of America's largest national precious metals dealers and the nation's leading sound money public policy group today recognized two outstanding state lawmakers for their leadership in advancing sound money policies in 2025.
Money Metals Exchange, Sound Money Defense League, and Sound Money Foundation are excited to announce Kentucky Rep. TJ Roberts (R) and Wyoming Sen. Bob Ide (R) as "2025 Sound Money Legislators of the Year."
Last year, Kentucky Gov. Andy Beshear illegitimately line-item vetoed a sales tax exemption on purchases of gold and silver, despite the state Constitution not permitting him this power. Still, Gov. Beshear directed his offices to continue collecting this tax, with fines and penalties for non-compliance.
In response, freshman legislator TJ Roberts introduced House Bill 2 and spearheaded an effort in 2025 to not only eliminate the sales tax on gold and silver purchases retroactive to Gov. Beshear's unconstitutional veto in August 2024, but also to enable taxpayers to sue the governor and his departments for wrongful taxation.
"We've been working in Kentucky since 2020 and thought we'd successfully eliminated the sales tax on gold and silver before Gov. Beshear's unconstitutional veto. A freshman legislator, Rep. Roberts was instrumental in establishing the sound money issue as a priority for lawmakers in the state." said Sound Money Defense League executive director Jp Cortez.
"I am honored to be named a Sound Money Defense League's 2025 Legislator of the Year. Inflation is a silent thief and a sinister, regressive tax that no one voted for; it is a plague inflicted by reckless spending and senseless money printing of the unaccountable Federal Reserve that erode the hard-earned savings of Kentuckians and undermine our economic freedom." said sponsor Rep. Roberts.
"As State Representative, I am actively working in Frankfort to advance sound money reforms, collaborating with fellow legislators to protect our state's financial stability. I pledge to continue this fight, protecting the rights and prosperity of every Kentuckian against the dangers of fiat currency and government overreach.
"America needs sound money, and I will always fight for the Constitution's true money: gold and silver," he concluded.
Kentucky became the 44th state in the U.S. to have partially or fully removed sales taxes on constitutional sound money (i.e. gold and silver) and the passage of this measure will move the Bluegrass State up the rankings on the Sound Money Index, from its embarrassing place at the bottom of the Index tied for 46th place out of 50.
In Wyoming, the Sound Money Defense League worked closely with lawmakers in 2018 to ensure enactment of the Wyoming Legal Tender Act into law. This bill eliminated all tax liability on precious metals, reaffirmed their status as specie legal tender, and created a foundation for more pro-sound money legislation to come.
Building on this 2018 law, Sen. Bob Ide carried S.F. 96 to enactment in 2025, ensuring the Cowboy state will establish a minimum $10 million physical gold reserve for the state. The fledgling gold reserve begins the process of securing the state's investments, helping it to insure against inflation, debt defaults, and other risks. The measure also gives the state treasurer the authority to contract for services with established precious metals firms and other industry experts to assist with these duties.
Upon receiving the award, Sen. Bob Ide said, "I am truly grateful for your recognition of my efforts to champion sound money principles in the Wyoming legislature, and I will continue advocating for economic integrity and financial freedom with unwavering commitment.
"With Sound Money Defense League's support and testimony, I'm thrilled to celebrate the Wyoming Gold Act's passage, a game changer for our citizens, securing our financial future with a $10 million physical gold reserve/constitutional money to shield against inflation and economic uncertainty, ensuring stability and prosperity for every Wyomingite."
In 2025, legislators in more than 30 states across the U.S. introduced dozens of bills seeking to eliminate taxation on buying, selling, and using precious metals, bolstering state taxpayer funds with physical gold and silver, reaffirming precious metals as Constitutional money, and more.
Only 6 states still impose a sales tax on all purchases of precious metals - Maryland, Washington, Hawaii, New Mexico, Maine, and Vermont. Sound money forces expect exemption bills to be introduced in the majority of these in the upcoming legislative session, including Washington and Maryland after they controversially repealed sales tax exemptions on gold and silver purchases this year.
Other states have reimposed sales tax on precious metals in the past - only to swiftly reverse course after businesses, conventions, and tax revenue left the state to jurisdictions with more favorable laws pertaining to sound money.
Several other lawmakers also made key contributions to the national movement to advance sound money policies, thereby earning honorable mention as part of this year's award.
Alabama state Sen. Tim Melson (R), a two-time Sound Money Legislator of the Year award recipient, sponsored yet another sound money bill that was signed into law by the governor, this time to reaffirm gold and silver as legal tender.
Connecticut state Sen. John Fonfara (D) championed a measure to end the $500 sales tax threshold required to qualify for the sales tax exemption on purchases of precious metals.
Fonfara's bill also creates a working group to monitor economic conditions, inflation expectations, precious metals prices and activities, including the market activities of leading commodities exchanges and bullion market associations, and precious metals legislation proposed in or enacted by other states.
And finally, Florida House Speaker pro tempore Rep. Wyman Duggan (R) worked to address the state's $500 sales tax threshold as part of a comprehensive tax package while Idaho House Speaker Mike Moyle (R) secured passage of a capital gains tax exemption on all sales of gold and silver.
Sound Money Defense League is the nation's leading public policy group working to restore sound money at the state and federal level since 2014 and publisher of the Sound Money Index.
Money Metals Exchange is a national precious metals company recently named "Best in the USA" by an independent global ratings group and serves almost 500,000 investors in physical gold, silver, platinum, and palladium. The company also operates the largest precious metals depository in North America and a collateral lending group. For more information, please visit www.moneymetals.com.
Jp Cortez
Jp.Cortez@soundmoneydefense.org
SOURCE: Sound Money Defense League
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/business-and-professional-services/announcing-the-2025-sound-money-legislators-of-the-year-1061145
