119-hr1401

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1401 Introduced in House

    (IH) ]

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119th CONGRESS
 1st Session
 H. R. 1401

To save taxpayers money by improving the manufacturing and distribution 
 of coins, and for other purposes.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 February 18, 2025

Mr. Biggs of Arizona (for himself, Mr. Ciscomani, Mr. Moore of Alabama, 
 Mr. Weber of Texas, and Ms. Boebert) introduced the following bill; 
 which was referred to the Committee on Financial Services

_______________________________________________________________________

 A BILL

To save taxpayers money by improving the manufacturing and distribution 
 of coins, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Currency Optimization, Innovation, 
and National Savings Act of 2025''.

SEC. 2. SAVING TAXPAYERS MONEY BY SUSPENDING PRODUCTION OF THE PENNY.

    (a) Sense of Congress.--It is the sense of the Congress that--

    (1) sufficient one-cent coins have already been minted to 
 meet demand;

    (2) taxpayers have been and would continue to lose money 
 producing the one-cent coin; and

    (3) further production of the one-cent coin is not 
 necessary for the next decade.

    (b) Temporary Suspension of Production of the One-Cent Coin.--
Except as provided in subsection
            (c) and notwithstanding any other 
provision of law, the Secretary of the Treasury shall cease production 
of any new one-cent coins for the 10-year period beginning on the date 
of enactment of this Act.
            (c) Exception.--

    (1) In general.--The Secretary of the Treasury shall 
 continue to produce one-cent coins as appropriate solely to 
 meet the needs of numismatic collectors of that denomination.

    (2) Sale.--The one-cent coins produced under paragraph

    (1) shall be sold in accordance with other general provisions 
 governing numismatic coins.

    (3) Net receipts.--The net receipts from the sale of one-
 cent coins produced under this exception shall equal the total 
 cost of production, including variable costs and the 
 appropriate share of fix costs of production, as determined by 
 the Secretary of the Treasury.
            (d) No Effect on Legal Tender.--Notwithstanding any other provision 
of this section, one-cent coins are legal tender in the United States 
for all debts, public and private, public charges, taxes, and duties, 
regardless of the date of minting or issue.
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