The Senate Commerce Committee advanced bipartisan legislation sponsored by Senator Robert Singer (R-Monmouth, Ocean) that would establish a fair, uniform standard for cash transactions, allowing businesses to round totals to the nearest nickel.
“As the penny is gradually phased out of production, businesses and consumers deserve clear, consistent rules that ensure fairness at the counter,” said Senator Singer. “This bill establishes a simple standard for cash transactions to help businesses adapt to changing currency practices.”
I wonder if people realize that pennies are still in circulation, they are no longer being minted, but there’s more than enough pennies. Unless the stores are rounding down and not up, there should be no change (pun not intended) to how it works because there are still over 100 BILLION pennies in circulation!