Gov. Greg Abbott Signs HB 1056: Texas Lays Groundwork for Financial Sovereignty in Push Against Federal Overreach
Austin, TX – A new law that has received little attention from the mainstream media may prove to be one of the most consequential pieces of legislation in Texas history. Governor Greg Abbott quietly signed House Bill 1056 into law on June 20, 2025. The bill, championed by Rep. Mark Dorazio (R-San Antonio), authorizes the Texas State Comptroller to invest state funds in precious metals—including gold and silver—and even to receive payments in those metals.
While seemingly a narrow fiscal policy bill at first glance, HB 1056 could signal something far more significant: a calculated step toward insulating Texas from federal economic instability and laying the groundwork for financial independence. Some constitutional conservatives and proponents of the Texas sovereignty movement are hailing the bill as a landmark moment in the long march toward a truly sovereign Texas.
What HB 1056 Actually Does
HB 1056 permits the Texas Comptroller to accept gold or silver as payment for state services and taxes, and it explicitly empowers the Comptroller to invest state holdings in precious metals. Notably, the law allows the state to store and manage its bullion within the Texas Bullion Depository, a facility that has quietly grown in significance since its establishment in 2015.
Texas is the only U.S. state to operate its own bullion depository—a fact many in the media have dismissed or ignored. But for lawmakers and citizens who view Washington, D.C. as bloated, irresponsible, and even hostile to traditional American values, HB 1056 is not just about monetary diversification. It’s about survival.
Why This Matters: Sovereignty Through Sound Money
For decades, the U.S. dollar has been decoupled from any hard asset. Since President Nixon officially closed the gold window in 1971, the dollar has been backed only by the “full faith and credit” of the federal government—an increasingly unstable foundation, given Washington’s $34 trillion national debt, inflationary monetary policy, and a weaponized financial system.
HB 1056 offers Texas an escape hatch.
“Gold and silver are real money—Biblical money, Constitutional money,” said Rep. Dorazio during the bill’s floor debate. “If we want Texas to be resilient to federal mismanagement and abuse, we need to hold real assets that Washington can’t inflate away.”
Though Texas isn’t leaving the Union tomorrow, proponents of Texit or other sovereignty measures see HB 1056 as a concrete step toward de-risking the state’s financial position. By increasing its holdings in gold and silver, Texas shields itself from dollar devaluation, Fed monetary policy misfires, and potential banking instability. In short: the bill is a hedge against a system spiraling out of control.
Building a Financial Ark
For years, economists have warned that the Federal Reserve’s endless money-printing—whether through quantitative easing, pandemic bailouts, or more recently, Green New Deal-style stimulus—has created a massive bubble in the U.S. economy. Inflation continues to outpace wage growth. Americans are losing purchasing power at an alarming rate. Meanwhile, federal regulators have openly floated the idea of Central Bank Digital Currencies (CBDCs), which critics argue could usher in an Orwellian level of financial surveillance and control.
HB 1056 plants a Texas flag firmly against that tide.
By investing state wealth in hard assets, Texas is functionally building its own financial ark. This legislation, coupled with the infrastructure of the Texas Bullion Depository, positions the Lone Star State to establish an alternative monetary system if and when the U.S. dollar falters.
“If the federal government continues down its current path, there may come a time when Texans need to rely on something other than the dollar,” said Thomas R., an economic policy analyst and longtime advocate for decentralization. “Texas is preparing for that eventuality, and HB 1056 is one piece of that puzzle.”
Constitutional and Historical Foundation
The United States Constitution itself permits states to make gold and silver legal tender (Article I, Section 10). HB 1056 takes this principle off the parchment and applies it to the 21st century.
Texas, with its independent streak and unique legal status as a formerly sovereign republic, is well positioned to reclaim the concept of sound money. HB 1056 doesn’t just allow the use of precious metals; it institutionalizes it. Over time, this may lead to the formation of parallel financial systems within the state—systems not reliant on fiat currency or federal institutions.
This legislative direction also dovetails with other sovereignty-minded efforts in Texas. From border security initiatives where the state has challenged federal inaction, to legislative proposals pushing back on ESG mandates and federal overreach in education, the broader picture is emerging: Texas is charting a course that anticipates national instability.
A Path to Wealth and Independence
There’s a strong economic argument to be made for this new law as well. As the state moves more of its investments into hard assets, it not only reduces exposure to inflation, but also increases the potential for asset appreciation. Gold and silver have historically held or increased their value during times of economic uncertainty, war, and inflation—conditions that are increasingly becoming the norm.
By becoming a regional center for precious metal transactions and storage, Texas could attract a wave of capital, commerce, and innovation. The state is already home to energy wealth, agriculture, tech, and manufacturing. Now it’s laying the foundations to become a monetary safe haven as well.
Texans may soon be able to pay their property taxes in silver rounds or buy government services with bullion-backed accounts. This shift isn’t merely symbolic—it’s functional.
And should the federal government move toward implementing a CBDC that tracks, controls, or restricts spending based on political views or “carbon footprints,” Texas will have already created an off-ramp.
National Reaction: Silence or Skepticism
Unsurprisingly, national media outlets have ignored the passage of HB 1056, and few in D.C. are willing to engage the implications. But that silence may itself be telling.
“I think they’re hoping if they don’t talk about it, it won’t catch on,” said a former Treasury Department official who now consults on state-level finance issues. “But Texas isn’t alone. Other states are watching this closely—Utah, Wyoming, even Florida.”
The Quiet Revolution
HB 1056 wasn’t signed with fanfare. No parades. No press tour. No national interviews. But that may have been intentional.
Like so many of Texas’ most impactful political decisions, this law was signed quietly, methodically—another brick in the fortress being built around the Lone Star State’s autonomy.
“This is not secession,” said Rep. Dorazio. “This is preparation.”
The coming years may reveal whether that preparation was prophetic—or essential.