Skofis Introduces ‘New Yorkers for Common Cents Act’

Senator James Skoufis (D-Orange County) introduced the ‘New Yorkers for Common Cents Act,’ (S.8580) on Friday, a bill that would bring uniformity to the processing of cash transactions throughout New York. In May 2025, the U.S. Department of Treasury placed its final order for blank pennies, marking the beginning of the coin’s permanent phase-out. On November 12, 2025, the U.S. Mint produced the country’s final penny.

As pennies begin to disappear from circulation, cash transactions rounded to the exact cent are becoming increasingly impractical, but guidance from the federal government to the business community has been sparse. Earlier this summer, some businesses around the state began alerting customers of a “penny shortage.”

Skoufis’ bill would standardize the way in which merchants determine the total price of goods (including discounts and taxes) by rounding to the nearest nickel.

“Consumers and businesses alike deserve clear guidance and transparency through this adjustment,” said Senator Skoufis. “Without consistent guidelines from merchant to merchant, confusion is inevitable, and I want to ensure New York has directives in place to protect individuals on both sides of cash transactions. This bill will help smooth this transition such that New Yorkers know what to expect when they pull out their wallets.”

The rounding system is based on the successful federal system used when Canada abolished the country’s penny in 2013.