House unanimously votes to eliminate one-cent coin permanently
The bipartisan bill would save an estimated $56 million a year and keep pennies legal tender while setting cash-rounding rules.
- The House unanimously passed the bipartisan Common Cents Act on Monday, permanently ending penny production at the Mint while establishing new cash-rounding rules and maintaining existing coins as legal tender.
- Driven by financial inefficiency, the Mint halted penny production in 2025 after 232 years as costs surged to more than three times the coin's face value, spurring legislative action.
- Led by House GOP Conference Chair Lisa McClain, R-Mich., and Rep. Robert Garcia, D-Calif., the bill mandates rounding cash transactions to the nearest five cents, with exceptions for cash wages.
- Annual savings of $56 million are projected if the act becomes law, pending President Donald Trump's signature to permanently lock the change and prevent future administrations from restarting production.
- Building on previous McClain legislation that omitted rounding provisions, Congress requires The Treasury to study the policy's impact on vulnerable groups including low-income consumers and those without bank accounts.
9 Articles
9 Articles
House unanimously votes to scrap the penny for good
The one-cent coin is on the brink of vanishing from everyday American life. According to a report from Fox News, the House of Representatives on Monday unanimously passed the bipartisan Common Cents Act, a measure that would permanently stop the U.S. Mint from producing pennies except as collector pieces. Fox News reported that the legislation […]
US House Unanimously Votes to Permanently End the 1-Cent Penny
NewsFinale NewsFinale Journal The familiar phrase “a penny for your thoughts” could soon take on new meaning, as the 1-cent coin moves closer to becoming a relic of America’s past. In a unanimous bipartisan vote Monday, the House of Representatives approved the Common Cents Act, a measure designed to formally phase out the nation’s smallest denomination of currency. […]
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