Senators want to replace $1 bill with $1coin

WASHINGTON - The U.S. Mint had planned to stop making dollar coins because there are so many sitting around.

But, two U.S. senators are now trying to ditch the dollar bill and only making dollar coins.

Republican John McCain and Democrat Tom Harkin are forgetting party politics and pushing for the dollar coins together. They say the move would actually reduce wasteful spending in the long run.

A report from the Government Accountability Office found using coins could save more than $5 billion over 30 years.

But standing in the way? Most Americans are against carrying more change. Right now, there are more than a billion dollar coins sitting in government vaults.

Dollar bills can be costly because they wear out too fast and have to be replaced much more often than coins.