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House unanimously votes to eliminate 1-cent coin permanently
New York Post • • nation
Key Points:
- The House of Representatives unanimously passed the bipartisan Common Cents Act, which would end the production of pennies except for collector coins and establish a system to round cash transactions to the nearest 5 cents.
- The bill includes a provision to round cash wages upward if the total is not divisible by 5 cents, while existing pennies will remain legal tender.
- The US Mint ceased producing pennies in November 2025 due to high production costs, which exceeded three times the coin's value, and the Treasury estimates the bill could save $56 million annually.
- Sponsored by GOP Chair Lisa McClain and Democrat Robert Garcia, the legislation also allows the Mint to produce nickels from cheaper materials and mandates monitoring of the rounding system's impact on vulnerable populations.
- If signed into law by President Donald Trump, the bill would prevent future administrations from resuming penny production.
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