Common Cents Act

Official Congressional Record (opens in a new tab)

Monica De La Cruz, TX

Republican
“I want the House to pass this bill by voice vote. The bill says the Treasury stops making pennies. Also, when people use cash they have to round to the nearest 5 cents. The bill does other things too.”
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Official Congressional Record

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 10167) 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. The Clerk read the title of the bill. The text of the bill is as follows: The SPEAKER pro tempore (Mr. Hurd of Colorado). Pursuant to the rule, the gentlewoman from Texas (Ms. De La Cruz) and the gentleman from California (Mr. Sherman) each will control 20 minutes. The Chair recognizes the gentlewoman from Texas.

Monica De La Cruz, TX

Republican
“I want to talk about this bill. I want to put a budget office report in the official record. That report says this bill will make the government spend a little more money. The bill will not change how much money the government takes in.”
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Official Congressional Record

Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I include in the Record the CBO estimate for this bill. EFFECTS ON DIRECT SPENDING AND REVENUES OF LEGISLATION CONSIDERED UNDER SUSPENSION OF THE RULES IN THE HOUSE OF ---------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------- H.R. 10167...................... Common Cents Act.. Increase by Less None.............. https:// Than $500K. docs.house.gov/ ----------------------------------------------------------------------------------------------------------------

Monica De La Cruz, TX

Republican
“This bill stops wasting taxpayers' money. The government spends more to make each penny than it's worth. That's dumb. It's been happening for years. The bill also helps with nickels. We should stop losing money. We should save money where we can. We should update old practices. This is a smart and simple change. It's a good bill for taxpayers. I want everyone to vote yes.”
79% shorter Analysis
Official Congressional Record

Mr. Speaker, I rise today in support of Republican Conference Chairwoman McClain's Common Cents Act. Rather than spending more money producing a coin than the coin itself is worth, this straightforward, commonsense bill ensures that Congress is a good steward of taxpayers' dollars by providing long-term fiscally responsible solutions. Mr. Speaker, let's look at the numbers. According to an audit of the United States Mint, it costs $3.69 to make a 1-cent penny. In fact, for 19 consecutive years, the U.S. Government has spent more than one penny to make one penny. In 2024 alone, taxpayers lost more than $85 million producing pennies. Chairwoman McClain's bill eliminates that wasteful spending by codifying President Trump's directive to the Mint to stop producing new pennies for circulation. However, we also need to make sure we are not solving one problem by creating another. If we stop making pennies, then Americans are likely to use more nickels, and at nearly 14 cents to produce nickels, they aren't exactly a bargain either. That is why this bill gives the Treasury Secretary the flexibility to move a lower-cost composite for the nickel, again, saving taxpayers money. The bill also provides a clear uniform standard for rounding cash transactions to the nearest nickel when exact change isn't available, ensuring our small businesses have the certainty they need. Importantly, the bill keeps Congress informed by requiring Treasury to notify the House and Senate and explain their reasoning before discontinuing any additional circulating coins. This is very simple. The Federal Government should not spend more money to make something than it is worth itself. We should look for savings where we can, modernize outdated practices, and ensure businesses and consumers have certainty at the register. Mr. Speaker, this is what responsible stewardship of taxpayer dollars looks like. Mr. Speaker, I urge my colleagues to support Chairwoman McClain's bipartisan Common Cents Act, and I reserve the balance of my time.

Lisa C. McClain, MI

Republican
“I want this bill to pass. Making pennies costs taxpayers a lot. That's bad. It costs four cents to make each one-cent penny. That lost us $85 million this year. No business would spend $4 to make $1. Washington is dumb. President Trump stopped making pennies. This bill makes that permanent. It will save $56 million next year. Pennies you already have are still money. This bill is not radical. Both parties agree on it. It's just common sense. I want Washington to stop wasting money on pennies. I want my colleagues to vote yes.”
64% shorter Analysis
Official Congressional Record

Mr. Speaker, I rise in support of H.R. 10167, the Common Cents Act. This is a straightforward bill that does one commonsense thing: It stops the Federal Government from losing money on a coin that almost no one uses. Every penny we mint costs taxpayers nearly 4 cents to make and distribute--4 cents to make just one penny. In this single year, that absurd math cost the taxpayers more than $85 million. As a businesswoman, I can tell you no businessowner in my district would spend $4 to make $1, but that is exactly how Washington has run with the penny. It doesn't make sense. President Trump saw the waste, and then he acted. Last November, the Mint struck the final penny. This bill writes that decision into law so no future administration can turn the presses back on. The Mint projects $56 million in savings in just 1 year. Let me be clear: Nobody is taking away pennies you already have. The penny in your pocket, the coin sitting in your jar on the counter, that all stays as legal tender. I introduced this bill with Congressman Robert Garcia. It is not radical. It is bipartisan. It is common sense. Republicans and Democrats don't often agree on much in this town, but I do think we agree on this: We shouldn't be wasting $85 million a year by keeping to mint pennies. Mr. Speaker, it is time to modernize our currency, cut the waste, and bring a little common sense back to Washington. I urge my colleagues to vote ``yes.''

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