The U.S. Senate passed the Common Cents Act on Friday by unanimous consent, authorizing businesses to round cash transactions to the nearest nickel and granting the Treasury authority to test lower-cost nickel compositions. The House had approved the measure in July. The bill preserves pennies as legal tender and directs the Federal Reserve to limit supply disruptions.
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“Senate passes currency bill that moves the U.S. closer to ditching penny, change nickel recipe”
Read at Just The News →The bill risks shifting small cumulative costs onto low-income cash users despite preserving legal tender status.
“Consumer protection for cash-dependent households”
The measure curbs wasteful spending on obsolete coins while preserving legal tender and minimizing abrupt changes.
“Taxpayer savings and operational efficiency”
Voluntary rounding reduces state inefficiencies and expands private choice, though state bans limit federal reform.
“Reduction of government mandates on commerce”
All views accept cost-saving premises without verifying net losses or questioning the Fed's monopoly on currency design.
“Overlooked structural and implementation questions”
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