To direct the Secretary of the Treasury to stop minting the penny, to require cash transactions to be rounded up or down to the nearest five cents, and for other purposes.
Sponsors
Legislative Progress
ReportedReported with an amendment, committed to the Committee of the …
Mrs. McClain (for herself and Mr. Garcia of California) introduced …
Summary
What This Bill Does
Directs the Treasury to stop minting pennies for general circulation while keeping existing pennies as legal tender. Allows composition changes to the nickel to reduce production costs.
Who Benefits and How
Taxpayers save money since pennies cost more to produce than their face value. Retailers and consumers benefit from simplified cash transactions without pennies.
Who Bears the Burden and How
Numismatic penny collectors lose new production for circulation. Businesses must adjust pricing and cash handling. Zinc industry loses government demand for penny production.
Key Provisions
- Ends penny production for general circulation
- Allows numismatic penny production to continue
- Permits nickel to be made with zinc core and nickel outer layer
Evidence Chain:
This summary is derived from the structured analysis below. See "Detailed Analysis" for per-title beneficiaries/burden bearers with clause-level evidence links.
Primary Purpose
Eliminates penny production and allows nickel composition changes to reduce minting costs
Policy Domains
Legislative Strategy
"Reduce minting costs by eliminating unprofitable coins"
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary"
- → Secretary of the Treasury
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology