Press Release: New Rasmussen Survey: “Most Are Willing To Phase Out One-Dollar Bill to Save Money”
61% Of Americans Favor Replacing The Dollar Bill With A Dollar Coin When Informed of Budget Savings Impact
For Immediate Release
December 11, 2012
Contact: Bryan DeAngelis
WASHINGTON –A new Rasmussen national telephone survey found that 61% of Americans favor replacing the dollar bill with a dollar coin when they learned the transition could save the government an estimated $4.4 billion over the next 30 years.
The survey also revealed that 92% of Americans don’t believe a dollar buys as much as it used to five years ago. Given those findings, Americans may be open to replacing the lowest-value note with a dollar coin, as nearly all industrialized countries have done.
Interestingly, the poll also found that men and younger adults are more supportive of replacing a dollar bill with a dollar coin compared to women and those who are older, which seemingly debunks the myth pushed by opponents of the dollar coin that men, in particular, will not support the dollar coin because they do not like carrying change in their pockets. 73% of men were in favor of replacing a $1 bill with a $1 coin when informed of the budget savings benefit.
Rasmussen Reports surveyed 1,000 American adults (36% Democrat, 36% Republican, 28% other) on December 5-6 2012. The margin of sampling error was +/- 3 percentage points with a 95% level of confidence.
This Rasmussen poll has been consistent with the Dollar Coin Alliance’s previous polling. It shows that Americans recognize the need for the government to find budget savings wherever it can and are therefore supportive of the transition from the $1 bill to the $1 coin.
Background on Efforts to Transition to the Dollar Coin
Last month, at a subcommittee hearing of the House Financial Services Committee examining the budget savings benefit of the dollar coin, the independent, non-partisan Government Accountability Office (GAO) recommended a move to the dollar coin for the 8th time. They estimated that the federal government could save at least $4.4 billion, if not more, without raising a single tax or cutting a single program.
In addition to testimony from the GAO, the committee heard from Philip Diehl, former Director of the U.S. Mint, and Beverly Lepine , CEO of the Royal Canadian Mint. Canada transitioned to a dollar coin in 1987 and realized ten times the budget savings initially estimated. Find their testimony at www.dollarcoinalliance.org.
Bipartisan legislation to transition from the dollar note to the dollar coin has been introduced in both Chambers of Congress. The COINS Act (H.R. 2977 and S. 2049) was introduced by Congressman Schweikert, Senators Tom Harkin (D-IA), John McCain (R-AZ), Tom Coburn (R-OK), Mike Enzi (R-WY) and is designed to save the country billions of dollars by eliminating the wasteful, inefficient $1 note.
About Dollar Coin Alliance
The Dollar Coin Alliance is a coalition of small businesses, budget watchdogs, transit agencies, and labor groups dedicated to saving American taxpayers billions of dollars by transitioning to a one-dollar coin, and focused on educating taxpayers and policy-makers about the benefits of increasing dollar coin circulation. For more information, or to get involved, please visit www.DollarCoinAlliance.org.