Latest news with #PaymentChoiceAct
The Hill
5 days ago
- Business
- The Hill
Why would the US government ever refuse the US dollar?
In a moment of remarkable irony, Toby Stover vs. United States National Park Service may go down in history as the case that put America's legal tender on trial — at the hands of its own government. At its core, this lawsuit challenges the National Park Service's growing refusal to accept cash — U.S. dollars — at dozens of federally funded national parks. One such site is none other than the historic home of President Franklin D. Roosevelt in New York's Hyde Park. There, a woman offered to pay her entry fee in U.S. currency, clearly marked 'Legal Tender for All Debts, Public and Private.' Park officials refused. Reflect for a minute on that. The Park Service, a federal agency, is declining to accept money issued by the U.S. Treasury, backed by federal law. And in this instance, it happened at the home of FDR, the very president who, in 1935, ordered the inclusion of the Great Seal of the United States on every dollar bill to bolster confidence during the Great Depression. Today, the federal government refuses to accept those very same bills on the hallowed grounds of his historic residence. According to the plaintiff's May 12 filing in the Washington, D.C., Federal District Court, entrance fees to a national park are bound by the U.S. Treasury's legal tender statute, which states that 'United States coins and currency … are legal tender for all debts, public charges, taxes, and dues.' Refusing to accept cash for public entry fees appears to directly violate this statute. The question at hand is not whether the Park Service prefers digital payments — it is whether federal agencies can legally refuse the nation's own money. This isn't a glitch in the system. It's a symptom of a larger, and dangerous, trend. Scores of parks across the country have implemented or are transitioning to 'cashless' payment systems. This includes iconic places like Yosemite, Rocky Mountain, Mount Rainier and Lake Mead. Even our more local Great Falls National Park went cashless in January. As the U.S. National Park Service turns its back on cash, however, other federal institutions are moving in the opposite direction. According to the IRS's chief counsel, Taxpayer Assistance Centers are required to accept cash from taxpayers pursuant to federal law. And in the U.S. Congress, Rep. John Rose (R-Tenn.) recently reintroduced the Payment Choice Act, a bill with bipartisan support that would require retailers to accept cash for purchases of $500 or less in brick-and-mortar establishments. An increasing number of state and local jurisdictions are passing 'cashless bans' in the absence of a federal law, requiring retailers to accept cash to ensure access and inclusion for all consumers and to guarantee essential commercial continuity in times of disaster. So while these local governments affirm cash as a public right, the U.S. National Park Service is refusing the only form of payment that requires no permission, no technology and no third-party intermediary charging fees to facilitate a simple transaction and/or selling your data to other companies. That contradiction should trouble us all. In the Toby Stover case, the National Park Service argues that if visitors can pay digitally, refusing to do so is a 'self-inflicted' injury. This logic is deeply flawed. The right to engage in commercial transactions should not be contingent on smartphone access or digital literacy. Tendering cash is an exercise of one's basic right to permissionless transactions. There is also a practical vulnerability here. Digital systems depend on power and internet connectivity. What happens when the grid goes down following natural disasters, computer glitches or cyberattacks? At many parks, visitors could be turned away, not because they didn't want to pay but because they brought the one form of payment the U.S. government no longer respects — its own currency! Will history remember Toby Stover vs. U.S. National Park Service as the case that helped rescue the dollar's dignity, or as the beginning of its quiet demise? In a democracy built on laws and liberty, the answer matters. Jeff Thinnes is CEO of JTI, Inc., which supports the Payment Choice Coalition, a group of companies advocating for the right to use cash for reasons of resilience, national security, privacy, fairness, safety and freedom of choice.
Yahoo
24-04-2025
- Business
- Yahoo
Protecting cash means safeguarding the right to transact
If you've followed me for long, you know I believe the future of money is the most significant policy debate going on today. To frame this issue, it's important to recognize that the right to transact predates any government. Two people who agree could trade or barter for anything by mutual consent without any outside influence. Then, governments were created, and shortly thereafter, they began using money as the "coin of the realm." Does the use of the government's system of money mean they can set the rules? Even in that case, the government should honor the rules they have set. Look at the dollar bill in your pocket. It says it clear as day: "This note is legal tender for all debts, public and private." That's not just a slogan − it's a promise. To foster adoption of the dollar as the currency, the promise was made: You can use this form of money anywhere in the country, and it will be accepted. Unfortunately, today, too many Americans walk into a store and get told, "No cash is accepted here." Cash is trusted because no third party (or intermediary) gets between the parties of the transaction. As in the beginning, before the government, when two parties agree to the transaction, they complete the transaction. Money is restricted to its proper and limited use, serving only as an efficient means of exchange and a stable store of value. With cash, no third party takes a cut of the transaction. For this reason, many small businesses prefer cash. They lose as much as 5% to Visa or MasterCard for the service they provide, but cash doesn't lose any value due to transactions. More: In JD Vance's hometown, Democrats jam 'empty chair' town hall for local congressman Without question, the service provided by credit and debit cards is valuable. In seconds, they establish the identity of the buyer and seller, verify the creditworthiness of the buyer, pay the seller, and create a record of the transaction. In that instance, buyers are protected from losing their money. If you lose cash, it's almost certainly gone. If you lose your credit card, the issuer will send you a new one. If someone uses your credit card without your permission, the credit card company assumes the risk. Credit cards are efficient. People love them. Banks love them. Lots of businesses prefer them. Government regulators prefer them to cash. Nevertheless, cash still claims to be "legal tender for all debts, public and private," but that only holds if people can indeed use cash in their transactions. That's why I'm proud to cosponsor the Payment Choice Act in Congress − a bipartisan fix to this mess. The Payment Choice Act would require retailers to accept cash as a payment option for purchases of $500 or less. It would also prohibit charging fees or higher prices for cash payments and bring uniformity to the patchwork of different state and local laws that have emerged. In Ohio, state Senators Bill Blessing and Catherine Ingram introduced similar legislation, Senate Bill 30, requiring retailers in Ohio to accept cash with exemptions for phone, mail, and online transactions. Their proposed legislation would serve Ohioans well, and I believe the Payment Choice Act would provide a solution for all Americans who choose to pay with cash. Cash is freedom. Nearly 25 million American households (and 1 in every 25 Ohio households) are unbanked or underbanked, according to the Federal Deposit Insurance Corporation. The Payment Choice Act will protect their right to participate in our economy with legal tender − cash. More: Here's what's next for controversial Hyde Park project that council approved Cash is security. Cash works even if the electric grid goes down. Consider hurricanes in the Southeast, tornadoes or snowstorms in Ohio, or a cyberattack anywhere − digital payments grind to a halt. Last fall, storms left folks from Florida to North Carolina powerless for weeks. Ohio's not immune either. When disaster hits, cash isn't just handy − it's a lifeline. Cash is essential to defending freedom. Other forms of payment can be cancelled altogether. Cash keeps money in its proper realm as an efficient means of payment and a stable store of value. America should never become a cashless society, and as we become increasingly digital, self-custody of digital money must retain the characteristics of cash. Protect the right to transact. Pass the Payment Choice Act. Congressman Warren Davidson, R-Ohio, represents Ohio's 8th Congressional District in the U.S. House of Representatives. A graduate of the U.S. Military Academy, he served in the 75th Ranger Regiment, The Old Guard, and the 101st Airborne Division. This article originally appeared on Cincinnati Enquirer: A cashless society risks leaving millions behind | Opinion
