House Passes Penny Rounding Bill, Sending 5-Cent Cash Standard to Senate
Updated
Updated · CBS New York · Jul 15
House Passes Penny Rounding Bill, Sending 5-Cent Cash Standard to Senate
3 articles · Updated · CBS New York · Jul 15
Summary
The Common Cents Act cleared the House on Tuesday, advancing legislation that would let cash purchases be rounded to the nearest 5 cents when exact change is unavailable.
The bill directs the Treasury to stop minting pennies and sets a national rule for rounding up or down, while keeping existing pennies valid currency.
Businesses say the measure is aimed at legal exposure created by penny shortages, which can leave merchants vulnerable to lawsuits even when they round in customers' favor.
The National Restaurant Association said roughly 1 in 4 restaurant customers still pay cash and estimated penny-related rounding losses could reach $168 million a year.
The push follows the last penny minting in November 2025; the U.S. Mint says each penny costs nearly 4 cents to produce, and the bill now heads to the Senate.