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.”
61% shorter Analysis
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.”
22% shorter Analysis
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.

Brad Sherman, CA

Democrat
“I want to end the penny. The president stopped making pennies last year. I do not like the president. But I agree with him on this one thing. I have wanted to stop the penny for a long time. But the president did it the wrong way. He ignored Congress. Now there are penny shortages and confusion. That is bad. This bill fixes that. It tells everyone how to round cash prices. It also lets the government make nickels out of cheaper metal. That will save money. People were worried rounding would raise prices. But it will be fine. Consumers can decide what to buy. The Federal Reserve will have a plan to handle the penny supply. Congress will get reports if they stop making any coins. That is important. We have always rounded sales tax. Now we will round to nickels. We can also use the space in cash registers for dollar coins. Dollar coins are good. The government loses money on paper dollars. So we should use dollar coins. I think people will like them. I urge everyone to vote for this bill.”
78% shorter Analysis
Official Congressional Record

Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I rise in support of H.R. 10167, the Common Cents Act, sponsored by Representative McClain. Last year, the President announced on Truth Social--not the best way to make a government announcement--that Treasury would stop minting pennies. Frankly, I disagree with almost everything the President does, but this one makes sense. I have been advocating for the abolition of the penny for over 20 years in our committee, and it is time that we move forward on this. Following this announcement, the Treasury moved forward, and the Mint has stopped producing pennies. Unfortunately, the decision to stop minting pennies ignored the authority of Congress in regulating currency and overseeing a major transition away from producing pennies. We saw that this abrupt decision resulted in major consequences across the country that led to penny shortages for banks, retailers, and consumers and created confusion in the economy. It is not enough to stop minting pennies. We need a bill that tells retailers and customers how much they are supposed to pay in nickels, dimes, and dollars. However, as written, this legislation addresses many of these issues and establishes much-needed standards and guidelines going forward. Since we marked up the Common Cents Act in our committee, this bill has continued to be meaningfully improved, thanks to the work of our ranking member, Maxine Waters, and other Financial Services Committee Democrats, including Representative Garcia. The Common Cents Act formally directs the Secretary of the Treasury to stop minting pennies. It also allows the Mint to test a lower-cost composition for the nickel, which chiefly would be zinc, and to make use of the zinc that is now going into pennies. Moreover, by using zinc for the nickel, not only will we save money, but it will be lighter, and that will be important for the cost of those who are transporting large quantities of coins, and it will be a little lighter in your pocket. This bill not only deals with the penny, but it also improves the nickel. The bill provides clarity on rounding cash transactions. When I proposed in committee 20 years ago, and I proposed it at townhalls, people were concerned that somehow this would lead to higher prices and that somehow retailers would benefit. The fact is, it is the consumer, not the retailer, who determines whether you buy two nail files at the same time and that happens to round down, and then buy another two nail files at the same time, and that transaction is rounded down. I can't imagine anybody doing that to save a nickel, but it is the consumer, not the retailer, that decides what goes into the basket. I can't imagine anybody looking at this. If somebody does care, it is the retailer in control. We have formal rules here on rounding down when it is 2 cents or 1 cent. That is important for commerce to go forward. Under this bill, the Federal Reserve would be required to issue a strategic plan for managing and limiting disruptions in the penny supply. Recently, in August, the Senate added a new section that requires the Treasury to submit notification to the Senate Banking Committee and the House Financial Services Committee regarding potential plans to discontinue any coin, among other requirements. This is important because Congress plays a key role in these processes. There has been some disruption, and we need to be in a position to manage it. My focus on the fact that we didn't need pennies arises from the fact that I used to head the second largest sales tax agency. What consumers may not know is that every time you do a transaction--last year, last decade, 20 years ago--the amount you pay the retailer is subject to rounding. There is a tax of 5 percent or 8 percent, and the amount you actually owe is $1.125, which is rounded down. We have been rounding transactions for a long time in this country. Now, we will be rounding to the nearest nickel instead of rounding to the nearest penny. Further, by eliminating the penny, we create extra room in the cash register where the penny used to go. That room could be used for a dollar coin. We all know that it costs more than a dollar to print a dollar and that a paper dollar wears out. I look forward to popularizing the dollar coin. This will be a boon to our transit agencies, vending machines, and others when people use a dollar coin. Growing up, we had a dollar coin. We just called it a quarter. We had a quarter. We used it. It was worth about what a dollar is worth today. Mr. Speaker, while I am not a big fan of the inflation that has taken place in my lifetime, I do think it is time to popularize the dollar coin. I urge my colleagues to support this bill, 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.''

Bill Foster, IL

Democrat

Linked statement

“I agree that eliminating the penny makes sense economically. As an Illinois representative, I object to losing Abraham Lincoln's image from commonly used coins. Put Lincoln on the dollar coin instead. That way everyone wins.”
62% shorter Analysis
Official Congressional Record

Mr. Speaker, I have to say that I agree it makes perfect economic sense to retire the denomination of the penny and, in fact, reemploy the dollar coin in ordinary commerce. As a Representative of Illinois, I cannot but mention the fact that the loss of the image of Abraham Lincoln on coins we often use is a tragedy that we can and should avert. The way to do that is to simply place the image of Abraham Lincoln on the newly minted dollar coin, a win-win every way you look at it.

More from issue 144

All 73 items ·
  1. House of Representatives Recognizing Donna Mills 4 statements
  2. House of Representatives Recognizing the Sudanese-American Iowa National Soccer Team Club 3 statements
  3. House of Representatives Remembering Father Vincent Robert Capodanno 2 statements
  4. House of Representatives Pending Retirement 3 statements
  5. House of Representatives Honoring Chris Fisher 4 statements
  6. House of Representatives Land Conveyance, Fort Bragg, Harnett County, North Carolina 4 statements
  7. House of Representatives Advisory Committee on the Records of Congress Sunset Act 4 statements
  8. House of Representatives Gpo Modernization Act of 2026 5 statements
  9. House of Representatives Legislative Branch Agencies Clarification Act 5 statements
  10. House of Representatives Illegal Red Snapper and Tuna Enforcement Act 5 statements
  11. House of Representatives Modernizing Access to Our Public Oceans Act 4 statements
  12. House of Representatives National Wildlife Refuge System Invasive Species Strike Team Act of 2025 4 statements
  13. House of Representatives National Park System Long-Term Lease Investment Act 5 statements
  14. House of Representatives Safe Beaches, Safe Swimmers Act 5 statements
  15. House of Representatives Archie Cavanaugh Migratory Bird Treaty Clarification Act 5 statements
  16. House of Representatives Peter G. Thurland, Sr., Bandstand 4 statements
  17. House of Representatives Transfer of Administrative Jurisdiction over Certain Federal Land in the State of California 4 statements
  18. House of Representatives Stronger Engagement for Indian Health Needs Act of 2025 5 statements
  19. House of Representatives Crow Tribe Water Rights Settlement Amendments Act of 2025 5 statements
  20. House of Representatives National Oceanic and Atmospheric Administration Sexual Harassment and Assault Prevention Improvements Act of 2025 4 statements
  21. House of Representatives Providing for the Equitable Settlement of Certain Indian Land Disputes Regarding Land in Illinois, and for Other Purposes 5 statements
  22. House of Representatives Advancing Water Research and Collaboration Act of 2025 6 statements
  23. House of Representatives Indian Health Service Emergency Claims Parity Act 4 statements
  24. House of Representatives Barbara L. Cubin National Historic Trails Interpretive Center 4 statements
  25. House of Representatives Local Communities & Bird Habitat Stewardship Act of 2026 4 statements
  26. House of Representatives Yuhaaviatam of San Manuel Nation Land Exchange Act 4 statements
  27. House of Representatives Establishment of the General George C. Marshall House as an Affiliated Area 4 statements
  28. House of Representatives National Law Enforcement Officers Remembrance, Support, and Community Outreach Act 4 statements
  29. House of Representatives Chesapeake Bay Watershed Advancement for Training, Education, Restoration, and Science (Waters) Act 6 statements
  30. House of Representatives Northern Nevada Economic Development and Conservation Act of 2026 7 statements
  31. House of Representatives Common Cents Act 6 statements
  32. House of Representatives Guarding Unprotected Aging Retirees from Deception Act of 2026 6 statements
  33. House of Representatives Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act 8 statements
  34. House of Representatives Whistleblower Protection Act of 2025 3 statements
  35. House of Representatives Directing the President, Pursuant to Section 5(c) of the War Powers Resolution, to Remove United States Armed Forces from Hostilities with Iran 16 statements
  36. House of Representatives Recognizing Trucker Appreciation Week 8 statements
  37. Senate Elections 5 statements
  38. Senate Unanimous Consent Request--S. 5389 (Executive Calendar) 5 statements
  39. Senate 25th Anniversary of the September 11, 2001 Attacks 4 statements