The House on Tuesday overwhelmingly passed a bill that would put into law President Trump’s policy to stop minting pennies, which cost $3.69 to produce a single one-cent coin.
The bill would not affect the value of preexisting pennies, which would remain legal tender.
The bill’s lead sponsor, House Republican Conference Chair Lisa McClain of Michigan, said it’s all about saving taxpayers’ money.
“The Common Cents Act is a simple matter of fiscal responsibility,” she said in a statement to The Washington Times. “Ending penny production will eliminate wasteful spending, save taxpayers millions of dollars each year, and modernize our currency system to better reflect how Americans conduct business today.”
The phase-out of the penny has already begun under the Trump administration, though the legislation would lock in that policy so future presidents can’t reverse it.
The U.S. Mint in Philadelphia minted the final five pennies in November 2025.
“Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time,” President Trump wrote on social media when ordering Treasury Secretary Scott Bessent to kill the penny.
Under the Common Cents Act, the Treasury could still produce and issue one-cent coins for banks to sell as commemorative and collectible pennies.
The bill would also allow Americans to use a rounding system to make up for the imprecision of a penniless system.
Businesses can round the final cost of a cash transaction, which includes tax, to the nearest nickel. Businesses and individuals who adopt this rounding system would be shielded from legal liability for the rounding.
While it would be a major change in the U.S., several countries, such as Canada and Australia, already employ a rounding system for cash payments. Several countries in the European Union, such as Italy and Belgium, have also ceased minting one-cent coins and adopted a rounding system.
A Senate version of the bill was sponsored by Republican Sen. Cynthia Lummis of Wyoming and Democratic Sen. Kirsten E. Gillibrand of New York.
“I am glad to see the Common Cents Act pass the House, bringing us one step closer to getting this important piece of legislation signed into law,” Ms. Lummis said in a statement. “With our national debt exceeding $36 trillion, we cannot afford to keep spending taxpayer money on currency that costs more to make than it is worth.”
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