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The International Franchise Association (IFA) issued the following statement endorsing the bipartisan legislation, Common Cents Act (H.R. 3074):
"IFA supports the Common Cents Act. The decision to cease minting the penny was understandable, but now the small business community needs clarity on how to navigate the ensuing marketplace," said Michael Layman, IFA chief advocacy officer. "Franchise business owners need certainty around everyday transactions, especially in cash-based operations where the penny shortage has created confusion for business owners and customers alike. By establishing clear rounding rules to the nearest five cents, this legislation delivers the stability and predictability that franchise small business owners need to focus on growth, job creation, and customer service."
The Common Cents Act codifies the U.S. Treasury Department's November 2025 decision to stop producing pennies and establishes formal rounding rules for cash transactions. Without the federal legislation, transactions are currently governed in a patchwork state-by-state system rather than a uniform national standard.
IFA sent a letter of support for the legislation here.