(CNN) – If Congress passes the COINS Act replacing the $1 paper bill for a coin, the U.S. government may be able to save billions in printing costs at the expense of a little more jangle in the average consumers’ pockets. But what about the strippers?
That’s what The Hill newspaper asked one of the bill’s co-sponsors, Sen. John McCain, in a piece published Thursday. The question came from a separate 2011 story where the publication suggested strippers could suffer in a bill-less economy, with G-strings and garter belts far less accommodating of cold metal.
For his part, the Arizona Republican responded in stride in a Capitol Hill hallway.
“Then I hope that they could obtain larger denominations,” McCain reportedly told The Hill.
According to The Hill, the 76 year-old McCain started answering questions from another reporter before a smile spread across his face and he shouted down the hallway to The Hill, “Fives, tens, one hundreds!”
McCain’s office did not respond to a request for comment.
Officially called the Currency Optimization, Innovation, and National Savings Act, the COINS Act has been put before Congress multiple times in recent years. In the Senate it was most recently introduced in June as S.1105 by Tom Harkin, D-Iowa. McCain’s fellow co-sponsors in the Senate are Michael Enzi, R-Wyoming, and Mark Udall, D-Colorado.
If passed, the bill would require Federal Reserve banks to stop circulating paper $1 bills within five years of the COIN Act going into effect.
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