House Clears Penny Era, Moves to Round Cash Transactions

The House unanimously passed the Common Cents Act to end penny production, block future minting of pennies (except for collectors), and establish a framework to round cash transactions to the nearest 5 cents (with pennies remaining legal tender and a carveout for cash wages). The bill also would let the Mint use cheaper materials for nickels, directs Treasury to study impacts on low‑income and other groups, and cites ~$56 million in annual savings. The measure builds on prior efforts aimed at stopping penny production and would require safeguards to prevent reversal by future administrations.