Common Cents Act
119-HR-3074119th CongressIntroduced Apr 29, 2025Finance and Financial Sector
Market Probability
No market
Status
Introduced
Committee
Floor Vote
Other Chamber
Signed
Placed on the Union Calendar, Calendar No. 192.
Sponsor
Rep. McClain, Lisa C. [R-MI-9](R-MI-9)1 cosponsor
Summary
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.
Subjects
Consumer affairsCurrencyMonetary policy
Actions (9)
Placed on the Union Calendar, Calendar No. 192.
Sep 4, 2025House floor actions
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-235.
Sep 4, 2025House floor actions
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-235.
Sep 4, 2025Library of Congress
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 35 - 13.
Jul 23, 2025House committee actions
Committee Consideration and Mark-up Session Held
Jul 23, 2025House committee actions
Committee Consideration and Mark-up Session Held
Jul 22, 2025House committee actions
Referred to the House Committee on Financial Services.
Apr 29, 2025House floor actions
Introduced in House
Apr 29, 2025Library of Congress
Introduced in House
Apr 29, 2025Library of Congress