The Common Cents Act aims to eliminate the production of the penny and requires cash transactions to be rounded to the nearest five cents. The Department of the Treasury will stop making pennies, except for collectors, but they will still be accepted as legal tender. Businesses and employers must round cash payments accordingly. The law will take effect one year after it is passed.
H.R. 3074 was introduced in the 119th Congress by Lisa McClain (Republican) and is currently listed as “Passed House”. It is classified under the Finance and Financial Sector policy area, one of 159 bills in that area we track this Congress.
Lisa McClain is the sponsor of 2 bills in our database this Congress, so H.R. 3074 is part of a broader legislative agenda rather than a one-off proposal.
Senate lobbying disclosures list 15 organizations lobbying on this bill’s issue area.
Our conflict-of-interest analysis rates H.R. 3074 7/10 (high risk), higher than 98% of analyzed bills; the average in Finance and Financial Sector is 2.3/10.
Supporters of the Common Cents Act argue that eliminating the penny will streamline cash transactions, reduce costs for businesses, and make payments more efficient. Many view it as a step toward modernizing currency and addressing the practical issues associated with using pennies, which are often seen as a nuisance.
Critics of the Common Cents Act express concerns that rounding cash transactions could lead to higher prices for consumers, particularly affecting low-income individuals. Some argue that the penny still holds sentimental value and is important for certain transactions, while others worry about potential confusion in pricing.
All donations are from employees of Applied Materials, Inc., indicating a potential conflict of interest if the bill benefits this company.
Top industries and organizations funding Lisa McClain, from FEC data.
Source: FEC campaign finance records
Organizations that lobbied on issues related to this bill's policy area.
| Client | Lobbying Firm | Amount |
|---|---|---|
| MEDIATEK USA INC. | PLURUS STRATEGIES, LLC | $60,000 |
| ARLO TECHNOLOGIES, INC. | CORNERSTONE GOVERNMENT AFFAIRS, INC. | $60,000 |
| TRUE ANOMALY, INC. | CORNERSTONE GOVERNMENT AFFAIRS, INC. | $50,000 |
| CITGO PETROLEUM CORPORATION | CITGO PETROLEUM CORPORATION | $50,000 |
| COLONNA'S SHIPYARD, INC. | TROUTMAN STRATEGIES | $50,000 |
| DENVER REGIONAL TRANSPORTATION DISTRICT | SQUIRE PATTON BOGGS | $40,000 |
| WESTERN ENERGY ALLIANCE | AMERICAN CAPITOL GROUP | $40,000 |
| SWM TECHNOLOGIES, LLC | CORNERSTONE GOVERNMENT AFFAIRS, INC. | $40,000 |
| ENERCON SERVICES, INC. | SQUIRE PATTON BOGGS | $30,000 |
| T-MOBILE USA, INC. | PLURUS STRATEGIES, LLC | $30,000 |
| AMERICAN SOCIETY OF PEDIATRIC NEPHROLOGY | CAVAROCCHI RUSCIO DENNIS ASSOCIATES, L.L.C. | $20,000 |
| C-PATH INSTITUTE | AMERICAN CAPITOL GROUP | $15,000 |
| CITY OF LOGAN UTAH | AMERICAN CAPITOL GROUP | $10,000 |
| BIO-TECHNE CORPORATION | SQUIRE PATTON BOGGS | undisclosed |
| ASSOCIATION FOR ACCESSIBLE MEDICINES | SQUIRE PATTON BOGGS | undisclosed |
Source: Senate Lobbying Disclosure Act (LDA) filings, 2026
Top industries funding Lisa McClain, ranked by total contributions.
Source: OpenSecrets.org (Center for Responsive Politics)
What does H.R. 3074 do?
The Common Cents Act aims to eliminate the production of the penny and requires cash transactions to be rounded to the nearest five cents. The Department of the Treasury will stop making pennies, except for collectors, but they will still be accepted as legal tender. Businesses and employers must round cash payments accordingly. The law will take effect one year after it is passed.
Has H.R. 3074 received a floor vote?
No roll-call vote on H.R. 3074 is recorded in our database yet. Its current status is “Passed House”.
Does H.R. 3074 have a conflict of interest?
Our conflict-of-interest analysis rates H.R. 3074 7/10 (high risk), higher than 98% of analyzed bills; the average in Finance and Financial Sector is 2.3/10. This score reflects overlap between the sponsor’s campaign funding, lobbying activity, and the industries the bill affects. It is a transparency indicator, not an accusation.
What is the status of H.R. 3074?
H.R. 3074 is currently “Passed House” as of our last update on July 15, 2026.
Who sponsored H.R. 3074?
H.R. 3074 was sponsored by Lisa McClain (Republican).
