PlainBillCongress, translated.Legislation. Context. Public interest.Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 36 · Passed House amended · May 8, 2008
Coin Modernization and Taxpayer Savings Act of 2008 - Requires the one-cent coin (except for Lincoln Bicentennial Numismatic Pennies) to be produced primarily of steel and treated to impart a copper color to its appearance similar to one-cent coins produced of a copper-zinc alloy.
Authorizes the Secretary of the Treasury, in the alternative, during the 90 days following enactment of this Act, to add any other element to any alloy of zinc and copper of which one-cent coins could have been composed before enactment of this Act, if during such 90-day period another element is determined to help produce one-cent coins of the same diameter, general composition, and general weight, but at a lower unit cost. Requires a prompt report to Congress if such a determination is made.
Directs the Secretary, two years after enactment of this Act, to produce only five-cent coins primarily made of steel with a coating of nickel, unless by that time the unit cost of production of existing five-cent coins is lower than their face value. Requires the Secretary, however, to recommend a different metallic content of circulating five-cent coins if any biennial report to Congress, required by this Act, indicates that such a different metallic content is both functional and interchangeable with existing coins, and more economical to produce in both the short and long term.
Showing the opening paragraphs of the official summary.
Authorizes the Secretary, in order to accomplish the goals of this Act, to research, develop, evaluate or begin to use new metallic material for circulating coin production.
Requires the Secretary to report biennially to specified congressional committees on the production costs for each circulating coin, cost trends, and possible new metallic materials or technologies for the production of circulating coins, with detailed recommendations for any appropriate changes to the metallic content of circulating coins.
People & committees
Rep. Space, Zachary T. [D-OH-18] · D–OH
Legislative record
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Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
The title of the measure was amended. Agreed to without objection.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR 5/6/2008 H3096-3097)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR 5/6/2008 H3096-3097)
Considered as unfinished business. (consideration: CR H3203-3204)
At the conclusion of debate, the chair put the question on the motion to suspend the rules. Mr. Carter objected to the vote on the grounds that a quorum was not present. Further proceedings on the motion were postponed. The point of no quorum was withdrawn.
DEBATE - The House proceeded with forty minutes of debate on H.R. 5512.
Considered under suspension of the rules. (consideration: CR H3096-3099)
Mr. Gutierrez moved to suspend the rules and pass the bill, as amended.
Subcommittee Hearings Held.
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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Analyze H.R.5512 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
Examine H.R.5512 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.
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