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No More Pennies: Cash Transactions Rounded to Nearest 5 Cents

This act aims to stop the minting of one-cent coins (pennies) within one year of its enactment. It also introduces a requirement to round cash transactions to the nearest 5 cents, simplifying daily payments. Existing pennies will remain legal tender and available for collectors.
Key points
Production of new one-cent coins (pennies) will cease within one year, except for collector's items.
All cash transactions will be rounded to the nearest 5 cents (e.g., 1, 2, 6, 7 cents down; 3, 4, 8, 9 cents up).
Existing one-cent coins will remain legal tender for all debts and payments.
Rounding rules do not apply to payments made by card, electronic transfer, or check.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1525
Sponsor: Sen. Lummis, Cynthia M. [R-WY]
Process start date: 2025-04-30
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Common Cents Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1525.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-04-30.

What are the main provisions?

Key points include:

  • Production of new one-cent coins (pennies) will cease within one year, except for collector's items.
  • All cash transactions will be rounded to the nearest 5 cents (e.g., 1, 2, 6, 7 cents down; 3, 4, 8, 9 cents up).
  • Existing one-cent coins will remain legal tender for all debts and payments.
  • Rounding rules do not apply to payments made by card, electronic transfer, or check.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Lummis, Cynthia M. [R-WY].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy