By the Ulman Public Policy Team
In February 2025, President Trump directed the U.S. Treasury Department to stop minting new pennies. Following this announcement, two pieces of federal legislation were introduced to eliminate penny production.
Common Cents Act
On April 30, 2025, Representatives Lisa McClain (R-Mich.) and Robert Garcia (D-Calif.), with Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.), introduced the Common Cents Act (S. 1525), bipartisan legislation to end the production of pennies. The bill also proposes rounding cash transactions to the nearest five cents. According to the bill’s press release, “Pennies are a waste of taxpayer dollars. It doesn’t make sense to spend millions each year minting coins that so few people actually use. President Trump’s common-sense idea should become law. We are taking a decisive step toward fiscal responsibility and updating our currency for the 21st century.”
The full press release can be read here.
Make Sense Not Cents Act
On May 1, 2025, Senators Mike Lee (R-UT) and Jeff Merkley (D-OR), introduced the Make Sense Not Cents Act (S.1554) to end production of the penny. According to the bill’s press release, “[b]ecause each penny currently costs nearly 4 cents to produce, ending their production is estimated to save American taxpayers over $85 million each year. The Make Sense Not Cents Act would eliminate this government waste by prohibiting the federal government from spending another cent from taxpayers on costly penny production.”
The full press release can be read here.