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EconomyH.R. 3074Comments

Common Cents Act

Official title: To direct the Secretary of the Treasury to stop minting the penny, to require cash transactions to be rounded up or down to the nearest five cents, and for other purposes.

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Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, done
  4. Outcome, current stage

What This Bill Does

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.

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. SenateReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. House floor actionsMr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  3. Library of CongressPassed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
  4. Floor Vote
  5. Passed the House
  6. House floor actionsReported (Amended) by the Committee on Financial Services. H. Rept. 119-235.
  7. House committee actionsCommittee Consideration and Mark-up Session Held
  8. House committee actionsCommittee Consideration and Mark-up Session Held
  9. Library of CongressIntroduced in House
  10. House floor actionsReferred to the House Committee on Financial Services.
  11. Introduced
  12. Committee

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