Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
The bill directs the Treasury to stop minting and issuing one-cent coins within one year, except for pennies produced and sold to collectors at no net loss. It preserves pennies as legal tender.
Progressives emphasize distributional harm to cash-dependent consumers
Relative to its intended legislative type, this bill is structurally direct and mechanically specific about the core actions (stop minting pennies; implement 5-cent rounding), integrates with identified existing statutes, and sets effective dates; however, it provides limited problem framing, minimal fiscal/resourcing analysis, little implementation guidance for affected parties, and almost no accountability or enforcement mechanisms.
The bill directs the Treasury to stop minting and issuing one-cent coins within one year, except for pennies produced and sold to collectors at no net loss.
It preserves pennies as legal tender.
It requires cash transactions and cash wage payments to be rounded to the nearest five cents using a symmetric rule, with electronic payments exempt.
Modest, technocratic reform with some built-in compromises but facing organized stakeholder resistance and Senate procedure risks.
Relative to its intended legislative type, this bill is structurally direct and mechanically specific about the core actions (stop minting pennies; implement 5-cent rounding), integrates with identified existing statutes, and sets effective dates; however, it provides limited problem framing, minimal fiscal/resourcing analysis, little implementation guidance for affected parties, and almost no accountability or enforcement mechanisms.
Progressives emphasize distributional harm to cash-dependent consumers
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize distributional harm to cash-dependent consumers
Generally supportive of ending penny production as a wasteful government expense, but wary about distributional consequences.
Concerned about how rounding will affect cash-dependent, low-income people and employees paid in cash.
Would seek consumer protections, monitoring, and enforcement against wage abuse.
Pragmatically supportive if the change saves public funds and rounding is neutral.
Views the symmetric rounding rule positively but wants clear implementation rules.
Emphasizes need for transparency on Mint savings and safeguards for cash-dependent populations.
Generally favorable because it reduces unnecessary federal spending and regulatory activity at the Mint.
Likes that collectors remain served and rounding is neutral.
Cautious about federal mandates affecting private cash transactions and potential downstream costs for businesses.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Modest, technocratic reform with some built-in compromises but facing organized stakeholder resistance and Senate procedure risks.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize distributional harm to cash-dependent consumers
Modest, technocratic reform with some built-in compromises but facing organized stakeholder resistance and Senate procedure risks.
Relative to its intended legislative type, this bill is structurally direct and mechanically specific about the core actions (stop minting pennies; implement 5-cent rounding), integrates with identified existing statute…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.