HR 3074

Summary

Common Cents Act This bill generally ends the production of the penny and requires rounding to the nearest amount divisible by five for the payment or transfer of cash. The Department of the Treasury must stop producing the penny, except to meet collector needs. The penny shall continue to be legal tender. Any person selling goods or services in a cash transaction, entering into other transfers of cash, or paying cash wages to an employee must round the payment up or down in accordance with the bill. The bill takes effect one year after the date of enactment.

Bill status

Status

Reported

Sponsor

Rep. Lisa C. McClain [R-MI-9]

Cosponsors

1

Policy area

Finance and Financial Sector

Introduced

2025-04-29

Latest action

2026-07-15: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Committee referrals

• Financial Services Committee: House · Reported By · 2025-09-04
• Financial Services Committee: House · Markup By · 2025-07-23
• Financial Services Committee: House · Markup By · 2025-07-22
• Financial Services Committee: House · Referred To · 2025-04-29

Recent actions

• 2025-09-04: Placed on the Union Calendar, Calendar No. 192.
• 2025-09-04: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-235.
• 2025-09-04: Reported (Amended) by the Committee on Financial Services. H. Rept. 119-235.
• 2025-07-23: Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 35 - 13.
• 2025-07-23: Committee Consideration and Mark-up Session Held