Bill · H.R. 1401· House(119-HR-1401)
Currency Optimization, Innovation, and National Savings Act of 2025
- Introduced
- 2/18/2025
- Last activity
- 2/18/2025 — Referred to the House Committee on Financial Services.
- Sponsored by
- Andy Biggs
- Cosponsors
- - 5 - 0
- Introduced
- In Committee
What this bill would do
This bill, titled the "Currency Optimization, Innovation, and National Savings Act of 2025," aims to save taxpayer money by improving how coins are made and distributed. The central provision directs the Secretary of the Treasury to stop making new one-cent coins for a 10-year period starting from the date the act is passed. An exception is made to allow for the production of one-cent coins specifically for numismatic collectors. These collector coins must be sold to cover the total cost of their production. Finally, the bill ensures that existing one-cent coins remain legal tender for all debts, taxes, and duties.
Yes
Does this reduce what the federal government spends?+5
The bill aims to save taxpayer money by ceasing the costly production of one-cent coins.
Does this make the government pay for what it commits to?+3
The bill seeks to prevent continued taxpayer losses associated with minting low-value currency.
Would households on low incomes be better off under this?+2
The bill preserves the value of current holdings by maintaining the legal tender status of existing pennies.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Saving Taxpayer Money: The bill aims to prevent taxpayers from losing money on the production of one-cent coins, as the sense of Congress is that sufficient coins already exist to meet demand (Section 2(a)).
-
Continued Use of Existing Currency: One-cent coins will remain legal tender for all debts, public charges, taxes, and duties, ensuring that the value of coins people already hold is not negatively affected (Section 2(d)).
Potential Negative Impacts for People
- Limited Coin Production: For a 10-year period, the production of new one-cent coins will cease, except for those intended for numismatic collectors (Section 2(b)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Economy And Finance
- Reduces Government Spending+5Improves Fiscal Responsibility+3
- Demographic And Interest Groups
- Good For Low Income Households+2
- 3/11/2025
- 1 Cosponsor added.
- 2/18/2025
- Referred to the House Committee on Financial Services.
- 4 Cosponsors added.
- Introduced in House
Lauren BoebertRepublican · Colorado
Sheri BiggsRepublican · South Carolina
Juan CiscomaniRepublican · Arizona
Barry MooreRepublican · Alabama
Randy WeberRepublican · Texas