House votes unanimously to eliminate one-cent coin

<p>The House of Representatives voted unanimously on Monday to pass the bipartisan Common Cents Act, which aims to eliminate the one-cent coin from circulation. The legislation prohibits the Treasury from minting additional pennies, except for collector coins, and establishes a framework for rounding cash transactions to the nearest five cents.</p><p>An exception will be made for cash wages, which must be rounded upwards if the total is not divisible by five cents. Existing pennies will remain legal tender.</p><p>The U.S. Mint ceased production of pennies in November 2025 after 232 years of circulation. If signed into law by President Donald Trump, the act would prevent future administrations from reversing this decision.</p><p>The cost of minting pennies has increased significantly, with production costs exceeding three times their face value as of 2025. The Treasury estimates that eliminating the penny could save approximately $56 million annually.</p><p>The bill was introduced by House GOP Conference Chair Lisa McClain, R-Mich., and Rep. Robert Garcia, D-Calif., the top Democrat on the House Oversight Committee. This legislation builds on a previous bill led by McClain that also sought to stop minting the penny but did not include provisions for rounding cash payments.</p><p>Additionally, the bill allows the U.S. Mint to produce nickels using less expensive materials. Congress will also monitor the impact of this new rule on various groups, including low-income individuals and older consumers, by directing the Treasury to assess its effects.</p>