Common Cents Act
In committeeCommon Cents Act This bill generally ends the production of the penny and requires rounding to the nearest amount divisible by five for the payment or transfer of cash. The Department of the Treasury must stop producing the penny, except to meet collector needs. The penny shall continue to be legal tender. Any person selling goods or services in a cash transaction, entering into other transfers of cash, or paying cash wages to an employee must round the payment up or down in accordance with the bill. The bill takes effect one year after the date of enactment.
Jul 15, 2026Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
The Common Cents Act aims to cease the production of the penny and implement a rounding system for cash transactions. The bill is straightforward in its objectives and provides exceptions for numismatic collectors and non-cash transactions. It lacks detailed enforcement mechanisms and fiscal analysis.