Bills · HR 1270
IN COMMITTEE· 119TH CONGRESS
House BillHR 1270Finance and Financial Sector
To suspend the production of the penny and nickel, to require the Comptroller General of the United States to carry out a study on pennies and nickels, and for other purposes.
INTRO FEB 12· LAST ACTION FEB 12
READING
3MIN
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- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenVoters should care about this bill because it directly impacts how we use money for everyday transactions. If new pennies and nickels are no longer made, it could subtly change the cost of items, particularly for those who primarily use cash, due to rounding up or down. This could lead to a small but noticeable effect on the purchasing power of low-income individuals or the total cost of groceries over time.
Beyond personal finance, this bill aims to save taxpayer money by stopping the production of coins that currently cost more to make than their face value. It also forces a formal review of the necessity and economic impact of these small denominations. If the study finds significant savings and minimal negative impact, it could pave the way for a permanent end to these coins, reflecting a shift in how Americans handle small change in an increasingly cashless society.
KEY PROVISIONS
5AI-extractedPROVISION 01
The U.S. Treasury would stop producing one-cent and five-cent coins for a period of ten years.
This provision would directly halt the creation of new pennies and nickels for a decade, aiming to reduce production costs.
PROVISION 02
An exception allows for the continued production of pennies and nickels solely for coin collectors, sold at a price covering their full production cost.
This ensures that the needs of numismatic enthusiasts are still met, while avoiding the circulation of these coins as regular currency.
PROVISION 03
All existing one-cent and five-cent coins would remain legal tender for all debts and payments.
This clarifies that current coins retain their value and usability, preventing confusion or devaluation of existing small change.
PROVISION 04
The Comptroller General of the United States (GAO) is required to conduct a study within three years on the effects of suspending coin production.
This mandates a comprehensive review to evaluate the financial savings and the impact on cash transactions, especially rounding.
PROVISION 05
The GAO study would recommend whether penny and nickel production should resume, stay suspended, or be permanently stopped, considering net savings and rounding effects.
This provision provides critical data and a recommendation that will inform future decisions by Congress regarding the fate of these coins.
SPONSORSHIP
1 + 0
R· Arizona
YRS IN OFFICE
15
BILLS LED
35
ACTION TIMELINE
2 EVENTSFEB 12
Introduced in House
FEB 12
Referred to the House Committee on Financial Services.
BILL INFO
TypeHouse Bill
NumberHR 1270
Congress119th
StatusIn Committee
IntroducedFeb 12, 2025
Last actionFeb 12, 2025
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IN COMMITTEE· 119TH CONGRESS · FINANCIAL SERVICES COMMITTEE · INTRODUCED FEB 12, 2025
House BillHR 1270Finance and Financial Sector
To suspend the production of the penny and nickel, to require the Comptroller General of the United States to carry out a study on pennies and nickels, and for other purposes.
INTRODUCED FEB 12, 2025· LAST ACTION FEB 12, 2025
PASSAGE CHANCES
—%
READING
3 min
COSPONSORS
0
COMPLEXITY
Moderate
