releases: https://www.lankford.senate.gov/news/press-releases/icymi-common-cents-act-passes-senate-by-unanimous-consent/
Data license: MIT · Data source: dwillis/congress-press
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| https://www.lankford.senate.gov/news/press-releases/icymi-common-cents-act-passes-senate-by-unanimous-consent/ | ICYMI: Common Cents Act Passes Senate by Unanimous Consent | 2026-08-18 | 2026 | 2026-08 | Republican | Senate | OK | James Lankford | L000575 | www.lankford.senate.gov | lankford | https://www.lankford.senate.gov/news/press-releases | page_html | OKLAHOMA CITY, OK — US Senators James Lankford (R-OK), Cynthia Lummis (R-WY), Kirsten Gillibrand (D-NY), and Ron Wyden (D-OR) successfully advanced the bipartisan Common Cents Act through the Senate by unanimous consent before the Senate adjourned. The legislation would end production of the penny and save taxpayers an estimated $56 million annually. The effort to end penny production has gained momentum under President Trump. On February 9, 2025, President Trump called for an end to the minting of pennies. On February 18, 2025, Treasury Secretary Scott Bessent confirmed that the US Mint would soon stop producing the penny. The Common Cents Act brings common sense to America’s coinage system by ending production of a coin that costs nearly four cents to produce while providing businesses with clear rules for cash transactions. The House passed the legislation by voice vote on July 14. “It costs nearly four cents to make a penny that is worth one cent. That is not a good use of taxpayer dollars. The Common Cents Act is a bipartisan, commonsense solution that will save taxpayers millions of dollars while ensuring businesses have clear rules for cash transactions. I’m glad the Senate unanimously passed this legislation and took another step toward bringing our nation’s coinage system into the 21st century,” said Lankford. Background The Common Cents Act does the following: Ends production of the penny. Provides legal certainty for businesses on rounding practices. Permits a lower-cost composition for the nickel that reduces costs while maintaining compatibility with existing machines. Requires advance Congressional notification of the discontinuation of future coinage. The National Association of Convenience Stores, National Grocers Association, National Restaurant Association, the United Steelworkers Union (USW), International Franchise Association, National Retail Federation, American Bankers Association, Retail Industry Leaders Association (RILA), and others have all endorsed the legislation. You can view the full bill text HERE and learn more about the law passed HERE. ### | 1 | 2026-08-19T05:29:02Z | 2026-08-19T05:30:24Z |