Fitzpatrick's bill would also make it the general policy of the government to replace paper dollars with dollar coins "after $1 coins achieve sufficient market penetration such that consumers and retailers are comfortable using $1 coins and are able to obtain adequate supplies of $1 coins."

The Fed would have to continue to remove "unfit" currency from circulation, and be required to "continue to destroy such currency."

Members have proposed abolishing the paper dollar several times over the last few years. Supporters see it as a way to save money — the Government Accountability Office has said millions of dollars would be saved by doing away with the more perishable paper dollar.

But the issue has drawn opposition. In 2011, then-Massachusetts Sens. Scott Brown (R) and John KerryJohn Forbes KerryShould President Trump, like President Obama, forsake human rights in pursuit of the deal with a tyrant? GOP Senate report says Obama officials gave Iran access to US financial system Democrats conflicted over how hard to hit Trump on Iran MORE (D) proposed an alternative bill meant to protect the paper dollar from the "massive overproduction" of the "unpopular $1 coin."

Supporters of the dollar coin pointed out then that Massachusetts-based Crane & Co. is the sole-source supplier of paper used to make dollar bills.

Among the co-sponsors of the last Congress's bill were Reps. Kevin BradyKevin Patrick BradyWill tax law help GOP? It’s a mystery six months in Lawmakers, businesses await guidance on tax law On The Money: Trump imposes B in tariffs on China | China blasts 'fickle' Trump, promises payback | Trump to name consumer bureau director next week MORE (R-Texas), Trent FranksHarold (Trent) Trent FranksFreedom Caucus bruised but unbowed in GOP primary fights Eric Schneiderman and #MeToo pose challenges for both parties The Hill's 12:30 Report MORE (R-Ariz.), Walter Jones (R-N.C.), Greg Meeks (D-N.Y.), Pat Tiberi (R-Ohio) and Paul Tonko (D-N.Y.), all of whom are co-sponsors of Fitzpatrick's bill this year.