Bill · H.R. 3074· House(119-HR-3074)
Common Cents Act
- Introduced
- 4/29/2025
- Last activity
- 7/15/2026 — Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sponsored by
- Lisa McClain
- Cosponsors
- - 0 - 1
- Introduced
- Passed House
- In Senate committee
What this bill would do
The "Common Cents Act" directs the Secretary of the Treasury to stop producing one-cent coins for general circulation while allowing their continued production for numismatic items. It authorizes the rounding of cash transactions to the nearest five cents when exact change cannot be provided. The bill also allows for changes to the composition of 5-cent coins to reduce production costs. Additionally, it establishes rules for rounding cash payments made by employers to employees. Finally, the Federal Reserve is required to create a strategic plan and submit various reports regarding the stability of the coin distribution system.
Yes· 3 of 8
Would people over 65 be better off under this?+2
The bill specifically tasks the Secretary of the Treasury to assess the impact of rounding practices on older consumers.
Would retired people be better off under this?+2
The bill includes protections and assessments regarding the impact of rounding on older consumers.
Does this give people more protection from unfair business practices?+2
The bill provides explicit rules for rounding in favor of customers during cash transactions.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Reduction in Coin Production Costs: The Secretary of the Treasury may prescribe a new composition for 5-cent coins to reduce the costs incurred to produce them (Section 2).
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Flexibility in Cash Transactions: People conducting cash transactions can round amounts to the nearest five cents if exact change is unavailable (Section 3).
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Favorable Rounding for Customers: When a person is paying a financial institution or another person in cash, the amount may be rounded in favor of the customer (Section 3).
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Protection for Employee Cash Payments: If an employer chooses to round a cash payment to an employee that is not divisible by 5 cents, they must round the amount up (Section s3).
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Legal Tender Assurance: Any one-cent coins minted and issued before the enactment of this Act will remain legal tender for all debts, taxes, and dues (Section 2).
Potential Negative Impacts for People
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Potential Disruptions to Coin Supply: The bill notes the need for a plan to address potential disruptions in the penny supply and the stability of the coin distribution system (Section 5).
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Impact on Vulnerable Populations: The Secretary of the Treasury is tasked with assessing how penny supply disruptions and rounding practices might impact low-income communities, older consumers, and unbanked or underbanked individuals (Section 5).
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Machine Compatibility Concerns: The bill acknowledges the need to ensure that changes to the 5-cent coin composition have a minimal adverse impact on machines designed to accept coins (Section 2).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Retirees+2Good For Seniors+2Good For Business Owners+1Good For Low Income Households+1Good For Middle Class Households+1
- Economy And Finance
- Improves Consumer Protection+2Improves Fiscal Responsibility+1Reduces Government Spending+1
- 7/15/2026
- Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 7/14/2026
- The title of the measure was amended. Agreed to without objection.
- Motion to reconsider laid on the table Agreed to without objection.
- Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
- On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H4433-4434)
- DEBATE - The House proceeded with forty minutes of debate on H.R. 3074.
- Considered under suspension of the rules. (consideration: CR H4432-4438)
- Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
- 9/4/2025
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-235.
- Placed on the Union Calendar, Calendar No. 192.
- 7/23/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 35 - 13.
- 7/22/2025
- Committee Consideration and Mark-up Session Held
- 4/29/2025
- Referred to the House Committee on Financial Services.
- 1 Cosponsor added.
- Introduced in House
3 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Robert GarciaDemocrat · California