cent act

    H.R. 0.01   Change and Elimination of Non-essential Treasure (CENT) Act   A BILL   With the PURPOSE AND GOALS to cease production of the United States penny and remove the one-cent coin from circulation, in order to reduce federal spending in the minting of such coins. Whereas current minting of pennies cause for a 0.5 cent loss on every coin produced.   Whereas the Department of Defense has prohibited the use of one-cent coins on overseas military bases.   1  Be it enacted by the Senate and House of Representatives of the United States of America 2 in Congress assembled,   3 SECTION 1. SHORT TITLE.   4 This Act may be cited as the “Change and Elimination of Non-essential Treasure Act” or 5 alternatively as the “CENT Act.”   6 SECTION 2. CESSATION OF PRODUCTION   7 The United States mint is to cease production of the one-cent coin to reduce federal 8 spending. 9 Costs of producing the penny have risen, while the costs of producing the others has fallen.  10 SECTION 3. REMOVAL FROM CIRCULATION   11 The United States mint is to remove the penny from circulation, no longer accepting the 12 one- cent coin as legal tender. 13 SECTION 4. CHANGES REGARDING PRICES   14 Businesses will be advised to round prices down. For example, lower 99 cent items down 15 to 95 cents. Doing so will ensure   16 proper exchange of lower-value coinage.   17 SECTION 5. ENACTMENT DATE   18 This law shall take effect, 365 days after passing of this bill.