Lisa C. McClain

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Mr. Speaker, I rise in support of H.R. 10167, the Common Cents Act. This is a straightforward bill that does one commonsense thing: It stops the Federal Government from losing money on a coin that almost no one uses. Every penny we mint costs taxpayers nearly 4 cents to make and distribute--4 cents to make just one penny. In this single year, that absurd math cost the taxpayers more than $85 million. As a businesswoman, I can tell you no businessowner in my district would spend $4 to make $1, but that is exactly how Washington has run with the penny. It doesn't make sense. President Trump saw the waste, and then he acted. Last November, the Mint struck the final penny. This bill writes that decision into law so no future administration can turn the presses back on. The Mint projects $56 million in savings in just 1 year. Let me be clear: Nobody is taking away pennies you already have. The penny in your pocket, the coin sitting in your jar on the counter, that all stays as legal tender. I introduced this bill with Congressman Robert Garcia. It is not radical. It is bipartisan. It is common sense. Republicans and Democrats don't often agree on much in this town, but I do think we agree on this: We shouldn't be wasting $85 million a year by keeping to mint pennies. Mr. Speaker, it is time to modernize our currency, cut the waste, and bring a little common sense back to Washington. I urge my colleagues to vote ``yes.''