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| candy.org |
Arizona Republican Congressman David Schweikert's trying to phase out the dollar bill, and replace it with a dollar coin through his "COINS" Act.
According to a poll commissioned by a pro-dollar bill advocacy group, Schweikert's own Republican constituents and base voters aren't too hip to the idea by a pretty wide margin.
Schweikert's "COINS" Act, which he introduced in September, is meant to
be a way to save the taxpayers money, as Schweikert's office claims the
act would save the country $5.5 billion over 30 years.
The act would require Federal Reserve banks to stop issuing dollar bills
four years after the legislation is enacted, or when the circulation of
dollar coins reaches 600 million annually, whichever comes first.
Paper,
as you can imagine, has to be replaced more frequently than coins, and
Schweikert says a dollar coin lasts as long as 17 dollar bills.
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