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2 clusters · 5 sources · 3 days · First seen 8 days ago · Last updated 6 days ago

U.S. legislation to end penny production

Overview

The U.S. House of Representatives has passed the bipartisan Common Cents Act, which aims to permanently end the production of the one-cent coin. This legislative action follows a November 2025 decision by the U.S. Mint to halt regular penny production due to rising costs, which reached approximately 3.69 cents per coin.

The act ensures that existing pennies remain legal tender. To address the lack of exact change, the legislation establishes a framework for rounding cash transactions to the nearest five cents. For cash wage payments, employers must round up to the nearest nickel if the amount is not divisible by five cents.

Additional provisions authorize the Treasury Department to investigate lower-cost compositions for nickels and mandate that the Federal Reserve Board study how these changes affect older consumers, low-income communities, and unbanked populations. The Treasury estimates that ending production could save approximately $56 million annually.

Entities

U.S. House of Representatives · U.S. Mint · Lisa McClain · U.S. Treasury · Federal Reserve Board

Timeline

6 days ago

[POLITICS] 3 sources
U.S. House votes to permanently end penny production
The U.S. House unanimously passed the Common Cents Act, which would permanently stop penny production and require cash transactions to be rounded to the nearest five cents.
8 days ago

[BUSINESS] 2 sources
U.S. House passes legislation to permanently end penny production
The U.S. House passed the Common Cents Act to permanently end penny production and establish rules for rounding cash transactions to the nearest five cents.

Sources

americanfaith.com · breitbart.com · fox13news.com · myfoxatlanta.com · soulbrasil.com