McCain Bill Would Kill Dollar Bill - John McCain - Fox Nation
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February 02, 2012

McCain Bill Would Kill Dollar Bill

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Senators McCain and Harkin seek to kill the dollar bill
 
By Josiah Ryan, The Hill
 
Sens. John McCain (R-Ariz.) and Tom Harkin (D-Iowa) have introduced legislation that would permanently discontinue the $1 dollar note and replace it with a coin.
 
Harkin and McCain penned The Currency Optimization, Innovation and National Savings (COINS) Act in response to reports from the nonpartisan Government Accountability Office (GAO) that indicate that abandoning the note could save around $5.5 billion over the next 30 years.  Specifically the COINS Act would require that Federal Reserve Banks discontinue the $1 note four years after enactment or once circulation of $1 coins exceeds 600 million annually.
 
Read more at thehill.com

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