The U.S. Mint would stop making pennies for regular circulation. Existing pennies would still be legal money, and Treasury could test cheaper ways to make nickels.
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Common Cents Act is a Senate bill in committee. The latest recorded action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Latest action on H.R. 3074: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Who this affects: This bill mainly affects people and businesses that still use cash, plus the U.S. Mint and companies that handle coins. The biggest real-world change is that new pennies would stop entering everyday circulation, while existing pennies would remain usable.
Why this matters: This bill matters because pennies would slowly become less common in everyday cash payments. People could still use the pennies they have now. The government could also try to spend less money making nickels. The main open question is how cash totals would work if pennies become harder to find, because the detailed text provided does not spell out those rules.
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