Senate advances bill to ban penny production
by George Caldwell · The Washington TimesThe Senate on Monday approved a bill that would put into law President Trump’s policy to stop minting pennies, each of which costs 3.69 cents to produce.
The Common Cents Act, already passed by the House in September, would not affect the value of preexisting pennies, which would remain legal tender. It now awaits the president’s signature.
“Republicans and Democrats agree: it’s time to retire the penny,” Sen. Cynthia Lummis, a sponsor of the bill, wrote on social media after the upper chamber passed it by unanimous consent. “It costs nearly 4¢ to make a single cent, and taxpayers foot the bill.”
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Ms. Lummis, Wyoming Republican, touted the bipartisan nature of the bill, noting the support of Sen. Kirsten E. Gillibrand, New York Democrat, throughout the process.
The Trump administration has already begun phasing out the penny, though the legislation would lock in that policy.
The U.S. Mint in Philadelphia made 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 said 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 1 cent coins as collectible items.
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The bill would also let Americans use a rounding system to make up for the imprecision of a penniless system.
Businesses could 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 1 cent coins and adopted a rounding system.
The bill also seeks to cut down on the cost of nickels, letting the treasury secretary test different compositions of zinc and nickel in 5 cent coins to save money.
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George Caldwell
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