Senate Advances Common Cents Act

In an important legislative victory for convenience retailers nationwide, the U.S. Senate passed the Common Cents Act Monday night via unanimous consent. The act will now head to the President’s desk for his signature. Once signed into law, the act will allow businesses to round cash transactions to the nearest five cents.

NACS has been a vocal advocate for the Common Cents Act since the halt in penny production and subsequent penny shortage. The NACS team has worked with members of Congress to encourage passage of the bill as it was negotiated through multiple versions in both the House—which unanimously voted to pass the act on Monday, September 14—and the Senate.

“We thank Senators Lummis and Gillibrand as well as Representatives McClain and Garcia for their commitment to helping retailers and consumers by getting the Common Cents Act passed,” said Brennan Duckett, director of regulatory and policy at NACS. “The act provides guidance that is critical for businesses that process cash transactions as the number of pennies in circulation continues to dwindle.”

President Donald Trump is expected to sign the act into law in the coming weeks. NACS will continue to update members as the bill makes its way to the White House.

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