No More Pennies? New Bill Shapes Future Cash Deals

The U.S. House of Representatives has approved the Common Cents Act, a bill designed to create national guidelines for handling cash purchases during the ongoing phase-out of the one-cent coin. Production of the penny by the U.S. Mint concluded in late 2025. This legislative effort aims to standardize how businesses manage cash transactions as pennies become less common.

The proposed act specifically addresses cash payments, ensuring that only the final totals of cash transactions would be rounded to the nearest nickel. Electronic payments and taxes would still be calculated to the exact cent. Prices themselves would remain unchanged, with sales tax calculated normally, and receipts showing the precise total. However, the amount tendered or received as change would be subject to the new rounding rules if paid in cash.