Committee backs 0.5% purchasing-fee reserve plan to hedge inflation for state contracts The committee favorably recommended House Bill 405, which would authorize a small fee on state cooperative procurement contracts to build a restricted strategic reserve (framed as a hedge against inflation, with sponsor discussing allocation conceptually to gold) intended to preserve purchasing power for recurring state purchases.

Utah's House Bill 405 aims to combat inflation by establishing a strategic reserve funded by a tiny fee on state contracts, promising to safeguard purchasing power for essential goods.

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#UT #PublicProcurement #CitizenPortal #EconomicPolicy #InflationHedging

Treasury authority to hold Bitcoin proposed; sponsors and crypto advocates urge guardrails Sponsors of bills S.1967, S.2008 and companion House measures asked the Joint Committee on Revenue to authorize limited, custodial purchases of Bitcoin and regulated digital assets for the Commonwealth's reserves, proposing caps, custody standards and audit requirements while emphasizing diversification and inflation hedging.

Massachusetts lawmakers are pushing for a bold strategy to diversify state reserves by allowing limited investments in Bitcoin, emphasizing strict safeguards to manage risk.

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#MA #DigitalAssetInvestment #CitizenPortal #InflationHedging #FinancialDiversification