OKLAHOMA CITY, Oklahoma:Several U.S. Senators support switching from the one dollar bill to a one dollar coin, including Oklahoma Republican Senator Tom Coburn . This is a bipartisan effort also supported by Republicans John McCain from Arizona and Mike Enzi from Wyoming and Democratic Senators Tom Harkin from Iowa and Mark Udall from Colorado.
According to the Government Accountability Office, moving to the coin could save $4.4 billion over 30 years. This is due in part because coins only need to be replaced every 30 years, whereas paper bills only last 4.7 years.
The move to coins is also backed by many organizations, including the Dollar Coin Alliance and the bipartisan Domenici-Rivlin Debt Reduction Task Force.