05 Apr SAY IT ISN’T SO! SENATORS SEEK TO ELIMINATE THE PENNY!
It seems another effort is underway to eliminate the penny! An Act, which also seeks to totally replace the dollar bill with a coin, was announced last week by U.S. Senators John McCain and Mike Enzi. The act has a long boring name, but a great acronym. The official name is the Currency Optimization, Innovation, and National Savings Act of 2017, or the COINS Act for short. Citing the high cost of making a penny and claiming that dollar bills don't fit into the modern economy, the authors of the Act claim that the cost savings of the plan could be as high as $16 billion.