COMMON CENTS ACT

On 2026-09-30, Senator Cynthia M. Lummis (R-WY) delivered a floor speech titled "COMMON CENTS ACT" in the Senate.

COMMON CENTS ACT

Congressional Record, Volume 172 Issue 155 (Wednesday, September 30, 2026) [Congressional Record Volume 172, Number 155 (Wednesday, September 30, 2026)] [Senate] [Page S5243] From the Congressional Record Online through the Government Publishing Office [ www.gpo.gov ] COMMON CENTS ACT Ms. LUMMIS. Mr. President, I ask unanimous consent to have the following statement printed in the Record. There being no objection, the material was ordered to be printed in the Record, as follows: Remarks by Senators Lummis, Gillibrand, Duckworth and Durbin, 5-Cent Coin Composition (September 30, 2026) Mr. President, earlier this week, Congress passed the Common Cents Act (H.R. 10167), which ends the production of the penny and creates a rounding scheme for cash payments. This legislation will save the U.S. Mint, and ultimately taxpayers, tens of millions of dollars each year. The bill also allows the U.S. Department of the Treasury and Mint to change the composition of the 5-cent coin. As Members of Congress who are engaged on the Common Cents Act, including the bill's bipartisan Senate cosponsors, we wish to clarify our intent of the provision that allows the Treasury and Mint to change the composition of the 5-cent coin from its current nickel-copper alloy to a zinc-nickel alloy. Not only should the Treasury and Mint evaluate the direct cost of production of the 5-cent coin when determining its composition, but it also should evaluate the cost and recyclability across the Treasury's and Mint's integrated coin-alloy and scrap-recycling system, as well as the availability of qualified suppliers and the overall resilience of the supply chain. The current copper and nickel 5-cent coin, dime, and quarter production streams are operationally and economically interconnected. The current composition of the 5-cent coin uses a closed-loop recycling model, and the nickel-copper alloy used in the 5-cent coin is compatible with the materials also used in dimes and quarters. This allows the 5- cent coin scrap to be recycled and reused into dime and quarter feedstock. The goal of the Common Cents Act is to save taxpayers money. Therefore, the Treasury and Mint should look at the impact and cost of changing the composition of the 5-cent coin, including the cost of production of the 5-cent coin and other coins, recyclability, availability of suppliers, and supply chain. ____________________

Referenced legislation: HR10167