Common Cents Act
Sponsored By: Senator Lummis, Cynthia M. [R-WY]
Introduced
Summary
Eliminates production of the one-cent coin and pairs that change with a mandatory 5-cent cash-rounding system to reduce penny use and simplify small cash payments. The bill would stop minting and issuing pennies within one year, with a narrow exception for numismatic (collector) coins sold at or above production cost.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
Stop minting the one-cent coin
If enacted, this would direct the Treasury to stop making and issuing new one-cent coins no later than one year after enactment. The Treasury could still mint pennies after that date only to meet numismatic (collector) demand, and any such coins must be sold under existing numismatic sale rules. Sales of collector pennies would have to bring in net receipts that at least cover production costs, including variable costs and an appropriate share of fixed costs, as the Secretary determines. The bill would say one-cent coins remain legal tender even after minting stops.
Cash rounding for payments and wages
If enacted, this would require cash payments and cash wages to be rounded to the nearest five cents starting one year after enactment. Totals that end in 1, 2, 6, or 7 cents would generally round down to the nearest 5-cent amount. Totals that end in 3, 4, 8, or 9 cents would round up to the nearest 5-cent amount. Totals of $0.01 or $0.02 (including taxes) must be rounded up to $0.05. Non-cash payments (cards, checks, electronic transfers, gift cards, money orders, and similar methods) would not be subject to these rounding rules.
Sponsors & CoSponsors
Sponsor
Lummis, Cynthia M. [R-WY]
WY • R
Cosponsors
Sen. Gillibrand, Kirsten E. [D-NY]
NY • D
Sponsored 4/30/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov