July 14, 2026
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National Taxpayers Union, the nation’s oldest taxpayer advocacy organization, urges all members to vote “YES” on H.R. 3074, the Common Cents Act. Sponsored by Representative Lisa McClain (R-MI), this bipartisan legislation reduces wasteful government spending by directing the Department of the Treasury to stop producing the penny and requiring that cash transactions be rounded up or down to the nearest five cents. By discontinuing a coin that costs more to manufacture than its face value, this legislation is an emphatic win for taxpayers.
As a result of rising commodity prices in recent years, producing and distributing physical pennies now costs roughly three times their face value. As consumers and businesses shift toward electronic payments, continuing the production of a loss-making coin that is used less often in everyday commerce defies common sense. With the national debt sitting at roughly $39 trillion, reforms that save taxpayer dollars are more important than ever.
This legislation follows the example of other industrialized nations that have successfully phased out one-cent coins, such as Australia and Canada. Importantly, pennies already in circulation would remain legal tender, and a straightforward rounding standard would apply solely to cash transactions. All non-cash transactions, such as those involving mobile payments or credit cards, would remain entirely unaffected.
Modernizing the U.S. coinage system is an opportunity for the federal government to cut waste and promote efficient commerce. As such, H.R. 3074 is exactly the kind of practical, good-government reform that demonstrates lawmakers are serious about being sound stewards of taxpayer funds.
Roll call votes will be included in NTU’s annual rating of Congress and “YES” votes will be considered the pro-taxpayer position.
If you have any questions, please contact NTU Policy and Government Affairs Manager Alexander Ciccone at aciccone@ntu.org
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