H.R. 10167
Common Cents Act
Summary:
• Directs the Secretary of the Treasury to stop minting pennies for general circulation, while allowing continued production for sale as collectible numismatic items, and existing pennies remain legal tender
• Establishes a voluntary cash transaction rounding system to the nearest 5 cents (rounding down for amounts ending in 1, 2, 6, or 7 cents; rounding up for amounts ending in 3, 4, 8, or 9 cents), applicable only to cash transactions
• Requires the Federal Reserve Board of Governors to submit a strategic plan within 90 days addressing penny supply stability, coin terminal operations, and impacts on low-income, unbanked, and underbanked individuals
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• Establishes a voluntary cash transaction rounding system to the nearest 5 cents (rounding down for amounts ending in 1, 2, 6, or 7 cents; rounding up for amounts ending in 3, 4, 8, or 9 cents), applicable only to cash transactions
• Requires the Federal Reserve Board of Governors to submit a strategic plan within 90 days addressing penny supply stability, coin terminal operations, and impacts on low-income, unbanked, and underbanked individuals
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