House Approves Bill to Kill the Penny | Long Beach News

The U.S. House just approved a bill to kill the penny — yes, the one-cent coin — because it costs nearly four times its value to make. Spearheaded by Rep. Robert Garcia and backed by Rep. Lisa McClain, the Common Cents Act would stop minting new pennies while letting existing ones stay legal tender. Businesses could round transactions to the nearest five cents, and the shift would take effect a year after passage. It’s not just the U.S. — Canada, Australia, and New Zealand already ditched their pennies with success. The bill also paves the way for a cheaper, redesigned nickel. With bipartisan support and a Senate vote looming, this could be the end of the penny era — and a smarter, more efficient currency system. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/46e3dbc9db1d6a17