08/07/2026
The Common Cents Act has passed the House and now moves to the Senate for consideration.
The bill is tied to the phase-out of the penny and would create a national rounding standard for cash transactions.
Under the proposal, cash purchases would be rounded up or down to the nearest five cents when exact change is not available.
For example, a purchase totaling $10.02 would round down to $10.00, while a purchase totaling $10.04 would round up to $10.05.
Pennies would still retain their value under the act, even as the Treasury stopped minting them.
The bill is especially relevant for businesses that handle cash, including restaurants and retailers, because it could reduce confusion and legal risk around exact change.
For consumers and businesses, the broader takeaway is that even small changes in currency rules can affect daily transactions, checkout systems, and cash-handling practices.
Source: https://www.cbsnews.com/news/common-cents-act-passed-house-penny-businesses/
