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119-s-1525119th CongressWALLET

Common Cents Act

Sponsored By: Senator Lummis, Cynthia M. [R-WY]

Passed Senate

Summary

This bill would end penny production and require nationwide cash rounding to five-cent increments. It would also authorize a new 5-cent coin composition, set detailed rounding rules for cash transactions, and require Federal Reserve and Treasury planning and reporting to manage the transition.

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  • Households and cash users: People who pay in cash would see totals and change rounded to the nearest 5 cents under specific rules. Treasury must assess how rounding and penny supply changes affect low-income, older, debanked, unbanked, and underbanked households.
  • Businesses and workers: Retailers and other cash-accepting businesses would apply defined rounding steps for final cent digits. Employers who pay employees in cash would have to round up employee payments to the nearest 5 cents when amounts are not multiples of 5.
  • Coin system and oversight: The bill would stop minting pennies for general circulation while keeping existing pennies legal tender and allowing penny sales as collectibles. The Treasury can change the nickel's composition and the Federal Reserve must publish a strategic plan within 90 days and issue follow-up reports at 6, 18, and 30 months.

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Bill Overview

Analyzed Economic Effects

5 provisions identified: 2 benefits, 0 costs, 3 mixed.

End new pennies, plan transition

If enacted, the Mint would stop making new pennies for everyday use. Pennies already in your hands would stay legal to spend, and the Mint could still sell collector pennies. The Treasury would send an impact report in 60 days focused on low‑income, older, and unbanked people. The Federal Reserve would publish a plan in 90 days to manage penny orders and deposits and limit disruptions, with follow‑up reports at 6, 18, and 30 months.

Advance notice before ending coins

If enacted, Treasury would need to give Congress at least 60 days’ notice and a full phase‑out plan before stopping minting of any circulating coin. Treasury would also brief the committees within 30 days after the notice. The bill would name the House Financial Services and Senate Banking committees as the covered committees.

Redesigned nickel to cut costs

If enacted, Treasury would be allowed to make nickels with a zinc inner layer and a nickel outer layer after testing. A copper‑nickel nickel would still weigh 5 grams; the new design could weigh 4 to 6 grams. The goal would be to lower minting costs and, as much as possible, avoid problems for coin‑accepting machines.

Cash wage rounding favors workers

If enacted, when an employer pays wages in cash and chooses to round, the cents would have to round up to the next 5 cents. This would apply only to cash pay that is not already a multiple of 5 cents. It would not require rounding when the exact amount is paid.

Rounding rules for cash checkouts

If enacted, stores and banks would be allowed to round cash totals when exact change is not available. Covered amounts ending in 1, 2, 6, or 7 cents would round down; 3, 4, 8, or 9 cents would round up, to the nearest 5 cents. Amounts of $0.01 or $0.02 would be allowed to round up to $0.05. Sellers taking cash would be allowed to round down for the customer, and payers handing over cash would be allowed to round up for the customer. No one would be required to round, and card, check, and electronic payments would stay exact. Following these rounding rules would not by itself break federal rules, and it would not change minimum wage, overtime, or paid leave laws.

Sponsors & CoSponsors

Sponsor

Lummis, Cynthia M. [R-WY]

WY • R

Cosponsors

  • Sen. Gillibrand, Kirsten E. [D-NY]

    NY • D

    Sponsored 4/30/2025

  • Sen. Lankford, James [R-OK]

    OK • R

    Sponsored 8/4/2026

  • Sen. Wyden, Ron [D-OR]

    OR • D

    Sponsored 8/4/2026

Roll Call Votes

No roll call votes available for this bill.

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