S. 1525 Passed the Senate Finance and Financial Sector

Common Cents Act

A bill 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 5 cents, and for other purposes.

  1. Introduced
  2. Committee
  3. Passed Senate
  4. Passed House
  5. To President
  6. Became law
Sponsor Sen. Lummis, Cynthia M. [R-WY] Introduced April 30, 2025 Cosponsors 3 (2 D, 1 R) Latest action August 10, 2026

Summary

Common Cents Act
This bill ends the production of the penny for general circulation, requires rounding to an amount divisible by five for the payment or transfer of cash, and allows the nickel to be composed of different material.
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 also allows Treasury to discontinue the minting for circulation of any coin if Treasury follows procedures as outlined by the bill, including providing notice and a briefing to Congress.
The Federal Reserve Board must periodically report on a strategic plan for the acceptance of penny orders and deposits at commercial coin terminals that provide services under agreements with Federal Reserve banks. 
Finally, the bill allows for a different material composition of the nickel. In addition to being made from an alloy of copper and nickel, the nickel may also be clad with an inner core of zinc and an outer layer of nickel. 

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Aug 10, 2026 Held at the desk.
  2. Aug 10, 2026 Received in the House.
  3. Aug 10, 2026 Message on Senate action sent to the House.
  4. Aug 7, 2026 Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S4586-4588)
  5. Aug 7, 2026 Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
  6. Aug 7, 2026 Measure laid before Senate by unanimous consent. (consideration: CR S4551)
  7. Aug 7, 2026 Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
  8. Apr 30, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  9. Apr 30, 2025 Introduced in Senate

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