This bill requires the U.S. Mint to stop making pennies for everyday use and lets stores and banks round cash transactions to the nearest 5 cents. It also lets the Mint make nickels from cheaper metals and protects businesses that round from federal, state, and tribal laws that might otherwise penalize them.
Common 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.
Last changed today · checked hourly
