Washington, D.C. — Rep. Donald M. Payne, Jr. introduced a resolution today with Rep. John Rose (R-TN) to remind Congressional members that American currency, or cash, is a critical part of the American economy. The resolution is designed to raise awareness of the importance of cash payments for goods and services for millions of Americans. It is co-sponsored by 22 additional Congressional members, including New Jersey Reps. Bonnie Watson Coleman, Josh Gottheimer, and Donald Norcross.
“Too many stores and businesses in America are trying to reject cash in favor of digital payments,” said Rep. Donald M. Payne, Jr. “But cash is the only option available for millions of Americans to pay for food, housing and other essentials. In addition, there are major security concerns with digital payments that do not occur with cash payments. Companies cannot misuse your data after a cash payment. Besides, there are few things more American than cash. A few years ago, we were fighting over who should be represented on our bills. Now, it seems companies are more than ready to get rid of them entirely.”
“Cash is and always will be king,” said Rep. John Rose. “As a growing number of businesses across the country refuse to accept cash, it’s important for Congress to publicly recognize its importance. I am proud to introduce this resolution and hope it can successfully pass the House to send a message to the businesses refusing legal tender.”
Later this year, Rep. Payne, Jr. will reintroduce his Payment Choice Act. This bill would protect cash as a form of payment for goods and services nationwide. Currently, there are 55 million Americans who lack a bank account or credit card and need to use cash to pay for their necessities. These Americans would be left out of the economy completely if cash is banned.
Original source can be found here.
