Lisa C. McClain · TranslatePolitics.com

House of Representatives

Common Cents Act

2026-07-14

“I want taxpayers to stop spending so much money making pennies. Right now it costs 4 cents to make 1 cent. This wastes money. I want Congress to pass a law to stop wasting so much money on pennies. I want the government to be careful with the people's money. My bill says the government should stop making pennies for general circulation. But it won't take away any pennies people already have. This idea makes sense. Even President Trump wanted this to happen. I want this bill to pass. I'm glad other people agree with me.”

Official Congressional Record

Mr. Speaker, I thank Chairman Hill for his help on this. Mr. Speaker, I rise today in support of H.R. 3074, the Common Cents Act. This is a straightforward bill that accomplishes one commonsense goal. It stops the Federal Government from losing money on a coin that almost no one uses. Here is the problem: Every penny we mint costs the taxpayers nearly 4 cents. Think about that. We are spending 4 cents to make 1 cent. Last year alone, that absurd math cost the American taxpayers more than $85 million. I think we can be a better steward of the taxpayers' money than that. As a businesswoman, I can assure you that no businessowner in my district or myself would ever spend four times as much to make $1. Yet, that is exactly how Washington has managed the penny year after year. Quite frankly, that does not make sense. The Common Cents Act fixes it. It directs the Treasury to stop minting the penny for general circulation, and quite frankly, that is it. It does not take away a single penny that somebody already owns. Every penny in your pocket, every penny in your piggy bank, and every penny in that jar on your counter stays as legal tender if it is unused. This is not a radical idea. President Trump called for it. It is his commonsense idea, and it should become law. I introduced this bill with Congressman Robert Garcia, and it cleared the Committee on Financial Services with strong bipartisan support. Republicans and Democrats don't agree on much in this town, but we do agree on this: We shouldn't be wasting $85 million a year to keep minting pennies. Not only do we agree, but, Mr. Speaker, I include in the Record letters of support from local industry leaders who also support this commonsense piece of legislation.

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