Replacing Dollar Bills With Coins Might Cut Deficit, Group Says
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For lawmakers looking for ways to cut the projected $1.6 trillion U.S. deficit, David DuGoff has an idea: dollar coins. DuGoff, the owner of College Park Car Wash in Maryland, is a member of a new coalition, the Dollar Coin Alliance. The group’s goal: outlawing dollar bills and replacing them with coins.
Signing on to the cause is a mix of car wash owners and others who rely on vending machines that often reject paper bills; Brink’s Co., the armored transport company that offers coin sorting and wrapping services, and mining companies, which would benefit from greater demand for metal, Bloomberg Businessweek reports in its March 28 issue.