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Common Cents Act

All articles tagged with #common cents act

politics1 day ago•3 min saved

Common Cents Act awaits Trump's signature as focus shifts to nickel cost cuts

The bipartisan Common Cents Act has cleared both chambers of Congress and now awaits President Donald Trump's signature. The legislation formally ends penny production, mandates cash rounding to the nearest five cents, and directs the Treasury to study cheaper materials for nickels. While the penny ceased circulation in late 2025, the bill aims to secure these changes permanently and address the high cost of producing nickels, which currently costs taxpayers roughly 13 cents per coin.

via Fox News|

#coinage-policy #common-cents-act #fiscal-reform

politics9 days ago•127 min saved

Common Cents Act Reaches Trump’s Desk After Bipartisan Passage

The U.S. Senate passed the Common Cents Act by unanimous consent on September 29, sending the bill to President Donald Trump for signature. The legislation formally ends penny production, mandates cash rounding to the nearest nickel, and authorizes cheaper zinc in nickel manufacturing. The House had approved the measure on September 14, with projected annual savings of $56 million.

via AP News|

#cash-rounding #common-cents-act #congressional-legislation

us-news23 days ago•24 min saved

Lawmakers Move to End the Penny and Move Cash to 5-Cent Rounding

The House unanimously passed the Common Cents Act to end minting the 1-cent coin (pennies would remain legal tender) and require rounding cash payments to the nearest nickel, with a wage-rounding provision. The bill, building on prior efforts, aims to save money as penny production has become expensive, projecting about $56 million in annual savings, and would raise Treasury oversight of any disruptions while assessing impacts on low-income and other affected groups; it would need the president’s signature to become law.

via New York Post|

#common-cents-act #house-of-representatives #pennies

politics23 days ago•5 min saved

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.

via Fox News|

#common-cents-act #currency-reform #penny

us-money1 month ago•15 min saved

Penny Phaseout Clears Senate as Congress Considers Nickel and Cash-Rounding Rules

Senators approved the Common Cents Act, paving the way to end penny production (final minting in 2025) and to allow retailers to round cash transactions to the nearest five cents when exact change isn’t available, while keeping electronic payments exact; the nickel could be next, though a separate bill to suspend nickel production remains stalled in the House.

via The Independent|

#cash-rounding #common-cents-act #congress