Senate passes Common Cents bill
The measure to provide merchants a cash rounding framework and to formally phase out the penny now heads to the White House.The Common Cents Act, which gives merchants a legal framework for rounding to the nearest nickel amid a dearth of pennies, passed the Senate on Monday night and heads to President Donald Trump. The bipartisan bill — which also formally ends U.S. Mint production of the penny — represents a victory for merchants that had sought federal guidance on how to more efficiently handle cash transactions as pennies gradually fade from circulation. The measure doesn’t apply to electronic transactions.