Congress votes to end production of the penny after 234 years, sending a bill to Trump
Congress has approved legislation to formally end the production of pennies after 234 years, sending the measure to President Donald Trump's desk. The legislation, known as the Common Cents Act, also impacts nickels and cash transactions, addressing retailer shortages and altering how shoppers pay with cash. Supporters of the bill note that producing the one-cent coin costs nearly four cents each to make. The Senate-passed measure garnered backing from banks, restaurant operators, and franchise small businesses before clearing Congress.
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- ✓ Congress voted to end the production of pennies after 234 years.
- ✓ The Senate sent the penny-killing bill to President Donald Trump's desk.
- ✓ Producing the one-cent coin costs nearly four cents each to make.
- ✓ The Common Cents Act impacts pennies, nickels, and cash transactions.
What changed
Congress officially passed the Common Cents Act and sent the legislation to the president to end penny production.
Live updates
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Congress Votes to End Penny Production After 234 Years
Congress has approved legislation to formally end the production of pennies after 234 years, sending the measure to President Donald Trump's desk. The legislation, known as the Common Cents Act, also impacts nickels and cash transactions, addressing retailer shortages and altering how shoppers pay with cash. Supporters of the bill note that producing the one-cent coin costs nearly four cents each to make. The Senate-passed measure garnered backing from banks, restaurant operators, and franchise small businesses before clearing Congress.
Why it matters
Lawmakers have debated the economic utility of the one-cent coin for years as manufacturing costs outpaced face value. The passage of the legislation marks a significant shift in United States currency and retail transactions. Retailers and small business operators have faced supply hurdles, making currency reform a priority for commercial groups.
What is confirmed
- Congress voted to end the production of pennies after 234 years.
- The Senate sent the penny-killing bill to President Donald Trump's desk.
- Producing the one-cent coin costs nearly four cents each to make.
- The Common Cents Act impacts pennies, nickels, and cash transactions.
What to watch next
- President Donald Trump signing or vetoing the Common Cents Act
- Implementation timelines for ending penny minting and updating retail cash rounding
confidence 100%Sources used for this update (15)
- The Hill — Common Cents Act would impact pennies, nickels and cash transactions. It may soon become law
- AP News — Congress votes to end production of the penny after 234 years, sending a bill to Trump
- Bloomberg Law News — Penny Rounding Bill Heads to Trump as Retailers See Shortages
- American Banker — Senate sends penny bill supported by banks to Trump's desk
- Fort Wayne Business Weekly — Sept. 29: Common Cents Act clears Congress, delivers victory for restaurant operators
- FOX 9 Minneapolis-St. Paul — Bill to end minting pennies passes Senate, heads to Trump’s desk
- inc.com — America Is Killing the Penny. It Could Change the Most Powerful Number in Retail
- www-cdn.abcnews.com — Congress votes to end production of the penny after 234 years
- yahoo.com — New bill would change how shoppers pay with cash: what to know
- Franchising.com — IFA Applauds Passage of Common Cents Act to Provide Currency Certainty to Franchise Small Businesses
- Jonesboro Sun — In defense of the penny
- American Banker — A penny saved is now just a penny sitting in a cup somewhere
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