Prime Cancel Unnecessary Transactions and Spending Act or the Prime CUTS Act This bill restricts certain spending by federal agencies. It also authorizes the U.S. Mint to modify the metallic composition of circulating coins to a new metallic composition under specified circumstances and terminates the Presidential Election Campaign Fund. Specifically, the bill limits the amount of discretionary spending that an executive agency may obligate in the two-month period immediately preceding the end of a fiscal year. The bill authorizes the Department of Defense to consolidate infrastructure at its distribution centers to improve the effectiveness and efficiency of the supply chain and inventory management. The bill prohibits specified federal spending to purchase, acquire, or distribute swag and requires each agency to report on public relations and advertising spending. Swag is merchandise (typically displaying an agency's name or seal) that is commonly distributed to all employees or participants at a particular event for the sole purpose of promoting or advertising the agency or organization. The bill prohibits the use of federal funds for certain transit and rail projects.