House Passes Bipartisan Legislation Introduced by Senators Enzi, Hassan to Save Taxpayer Dollars by Modifying Composition of Currency

Press Release

U.S. Senators Mike Enzi, R-Wyo., and Maggie Hassan, D-N.H., released the following statements after the House passed bipartisan legislation that they introduced in the Senate earlier this year to allow the U.S. Mint to adjust the metal content of circulating coins to save taxpayer dollars.

"I'm glad the House passed this commonsense legislation that could save millions of taxpayer dollars every year," Senator Enzi said. "By changing the composition of coins, the U.S. Mint can produce coins at a lower cost while integrating them seamlessly into the current coin supply. Making even a slight alteration to the composition could save the federal government $48 million over the first 10 years. It is a win-win and I urge my colleagues in the Senate to pass this legislation soon."

"This commonsense, bipartisan bill would save millions of taxpayer dollars, according to the Government Accountability Office and the U.S. Mint," Senator Hassan said. "I urge Senate Majority Leader Mitch McConnell to bring our fiscally responsible legislation up for a vote without delay to ensure that this bill can be sent to the President's desk before the end of the year."

The bipartisan Coin Metal Modification Authorization and Cost Savings Act authorizes the U.S. Mint to modify the metallic composition of circulating coins if the modification will reduce costs incurred by taxpayers, allow for a seamless transition into circulation, and have minimal impact on the public.

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