Arizona Congressman Introduces Bill To Eliminate The Dollar Bill
Sept. 26, 2011
Rep. David Schweikert, a first-term Arizona congressman, thinks he can convince Americans to do what prior efforts have not: scrap their dollar bills in favor of coins and has introduced a bill requiring Federal Reserve banks to stop issuing dollar bills when the circulation of the dollar coins exceeds 600 million a year but not later than four years after the bill is signed.
Rep. David Schweikert, a first-term Arizona congressman, thinks he can convince Americans to do what prior efforts have not: scrap their dollar bills in favor of coins and has introduced a bill requiring Federal Reserve banks to stop issuing dollar bills when the circulation of the dollar coins exceeds 600 million a year but not later than four years after the bill is signed, according to The Yuma Sun in Yuma, Ariz. For the full article, click here.
Editor’s Insight: Elimination of the dollar bill was a long-time goal for the vending industry, but Congressional opposition was too strong. At this point, it makes little sense for the vending industry to expend any resources on this effort.
Dollar coins remain a useful tool for vending operators, but the future for vending is in cashless transactions. 09-26-11 by Elliot Maras
