The Common Cents Act proposes to stop minting one-cent coins and requires rounding cash transactions to the nearest five cents.

The Common Cents Act mandates the cessation of one-cent coin production for circulation, allowing only numismatic sales. It requires cash transactions to be rounded to the nearest five cents, with exceptions for exact amounts. The Secretary of the Treasury must notify Congress 60 days before discontinuing one-cent coin minting and provide a briefing 30 days later. The Federal Reserve must report on the impact of penny supply disruptions and rounding practices on low-income communities. The Act ensures that rounding does not violate federal, state, or tribal laws.

The Common Cents Act proposes to stop minting one-cent coins and requires rounding cash transactions to the nearest five cents.

The Common Cents Act mandates the cessation of one-cent coin production for circulation, allowing only numismatic sales. It requires cash transactions to be rounded to the nearest five cents, with exceptions for exact amounts. The Secretary of the Treasury must notify Congress 60 days before discontinuing one-cent coin minting and provide a briefing 30 days later. The Federal Reserve must report on the impact of penny supply disruptions and rounding practices on low-income communities. The Act ensures that rounding does not violate federal, state, or tribal laws.