H.R. 3074 · Passed House · Finance and Financial Sector

Common Cents Act

What it does

End production of the penny by the Department of the Treasury, except for collector demand.
Require rounding of all cash payments and transfers to the nearest amount divisible by five cents.
Maintain the penny as legal tender despite halting production.
Require cash wages paid to employees to be rounded to the nearest five-cent denomination.

Official 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.

Latest action

Jul 15, 2026: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committee: Senate Banking, Housing, and Urban Affairs