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Common Cents Act
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
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
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
1Democrat Cosponsors
1Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 3074
Primary Policy Focus
Finance and Financial SectorPotential 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.
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.
Comments
Dominic Dillon
1,107
1 year ago
I'm curious about this bill. How will it impact me and others in AR?
Sponsors and Cosponsors of HR 3074
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