Common Cents Act

Hozzl · 2026-08-12T08:12:03Z

Explore the details of House Bill 3074 Common Cents Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

8/12/2026, 8:12 AM

Summary of Bill HR 3074

The bill titled "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 five cents, and for other purposes," designated as H.R. 3074 in the 119th Congress, was introduced on April 29, 2025. The purpose of the bill is to cease production of the penny by the Treasury, instead mandating that cash transactions be rounded to the nearest five cents.

Congressional Summary of HR 3074

Common Cents Act

This bill generally ends the production of the penny and requires rounding to the nearest amount divisible by five for the payment or transfer of cash.

The Department of the Treasury must stop producing the penny, except to meet collector needs. The penny shall continue to be legal tender.

Any person selling goods or services in a cash transaction, entering into other transfers of cash, or paying cash wages to an employee must round the payment up or down in accordance with the bill.

The bill takes effect one year after the date of enactment.

Read the Full Bill

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Current Status of Bill HR 3074

Bill HR 3074 is currently in the status of Introduced to Senate since July 15, 2026. Bill HR 3074 was introduced during Congress 119 and was introduced to the House on April 29, 2025. Bill HR 3074's most recent activity was Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of July 15, 2026

Bipartisan Support of Bill HR 3074

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 3074

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Consumer affairs

- Currency

- Monetary policy

Alternate Title(s) of Bill HR 3074

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 five cents, and for other purposes.