Bill > HR3074

This bill, known as the Common Cents Act, directs the Secretary of the Treasury to make several changes to U.S. coin production. Specifically, the bill will stop the minting of one-cent coins (pennies) for general circulation, though pennies can still be produced for collectors. The legislation modifies specifications for nickel (5-cent) coins, allowing for more flexibility in their composition by permitting an inner layer of zinc and an outer layer of nickel, with the goal of reducing production costs. Existing pennies will remain legal tender, meaning they can still be used for payments. Additionally, the bill introduces a requirement for cash transactions to be rounded to the nearest five cents, effectively phasing out the use of pennies in everyday commerce. This change aims to address the ongoing economic inefficiency of producing pennies, which often cost more to mint than their face value, while ensuring that consumers and businesses have a clear method for handling cash transactions in the absence of one-cent coins.

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https://www.congress.gov/bill/119th-congress/house-bill/3074/all-info