H.R. 3074 Passed the House Finance and Financial Sector

Common Cents Act

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.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. McClain, Lisa C. [R-MI-9] Introduced April 29, 2025 Cosponsors 1 (1 D) Latest action July 15, 2026

Summary

Common Cents Act
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.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Jul 15, 2026 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Jul 14, 2026 The title of the measure was amended. Agreed to without objection.
  3. Jul 14, 2026 Motion to reconsider laid on the table Agreed to without objection.
  4. Jul 14, 2026 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4433-4434)
  5. Jul 14, 2026 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
  6. Jul 14, 2026 DEBATE - The House proceeded with forty minutes of debate on H.R. 3074.
  7. Jul 14, 2026 Considered under suspension of the rules. (consideration: CR H4432-4438)
  8. Jul 14, 2026 Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  9. Sep 4, 2025 Placed on the Union Calendar, Calendar No. 192.
  10. Sep 4, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-235.
  11. Jul 23, 2025 Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 35 - 13.
  12. Jul 23, 2025 Committee Consideration and Mark-up Session Held

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