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.[1]
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.[2]
The move to coins is also backed by many organizations, including the Dollar Coin Alliance and the bipartisan Domenici-Rivlin Debt Reduction Task Force.[3]
