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Committee agrees to summer study for bill requiring businesses to accept cash
Summary
Senate Bill 07‑39 — which would require many in-person retailers to accept cash — was sent to summer study after extended debate on practicality, carve-outs and emergency access, and testimony from advocates worried about a cashless future.
Senator Harshbarger presented SB 07‑39 to require certain Tennessee retailers meeting minimum-size thresholds to accept cash for in-person transactions, with carve‑outs for some venues and exemptions for small operators. "I feel that since cash is a US legal tender, we should have that as a viable option," the sponsor said.
The bill drew extensive testimony and questions. Catherine Austin Fitts, appearing as a supporter, cited national data about the unbanked and argued for cash as an emergency-ready payment method: "As of 2024, 19% of American adults have no credit card," she said. Other members raised practical concerns — ATM limits, airports and ticketed events — and whether kiosks or prepaid solutions could bridge gaps.
After lengthy discussion the committee voted to send the proposal to a summer study so stakeholders and staff can draft workable carve-outs and implementation language. The sponsor asked for the further work and the committee agreed.
