Make Sense Not Cents Act
Make Sense Not Cents Act
Plain Language Summary
# Make Sense Not Cents Act Summary **What the Bill Would Do:** The Make Sense Not Cents Act would eliminate the penny from U.S. currency and remove it from circulation. Instead of pennies, cash transactions would be rounded to the nearest nickel. For example, a purchase costing $5.01 would round down to $5.00, while $5.03 would round up to $5.05. The bill aims to reduce the economic costs associated with producing, distributing, and managing pennies. **Who It Affects and Key Provisions:** This legislation would impact businesses, consumers, and the U.S. Mint.
Everyday shoppers using cash would experience slightly different transaction amounts due to the rounding system. The U.S. Mint would stop producing pennies, reducing manufacturing costs. The bill also likely includes provisions addressing how digital and credit card transactions would be handled (typically rounding rules don't apply to non-cash purchases). **Current Status:** As of now, the bill (S. 1554) remains in committee and has not advanced to a full Senate vote. This is not the first time lawmakers have proposed eliminating the penny—similar bills have been introduced in previous congressional sessions but have not become law.
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.