Texas Money Is A Big Step Towards #TEXIT
Texas Could Get Its Own Currency Under New Proposal
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A Texas Republican lawmaker introduced a bill on Wednesday to the state’s House of Representatives that would create a new body to conduct “a thorough evaluation” of Texas’ ability to launch its own currency “in the event of a collapse of the United States dollar.”
House Bill 4857, proposed by State Representative Andy Hopper, would establish the Texas Fiscal Risk Management Commission, which would be required to produce a report examining the feasibility of a state-backed currency. It would also investigate fiscal transfers between Texas and the federal government.
Newsweek reached out to Hopper for comment on Thursday via the online inquiry form on his official website, outside of regular office hours.
Why It Matters
A number of Texas officials have long argued that the state contributes more to the federal government than it receives in return. A recent analysis by the financial website MoneyGeek, published last month, found that out of all 50 states, Texas ranked 34th in terms of dependence on federal funding. In 2020, Texas Comptroller Glenn Hegar told The Texan that he was “concerned that Texas continues to be a donor state.”
A clearer understanding of the balance between what Texas contributes to and receives from the federal government could provide supporting data for those advocating for Texan independence, who argue that the state could sustain itself as…
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