Retailers Celebrate Senate Passage of Bipartisan Penny Legislation

The Retail Industry Leaders Association (RILA) issued the following statement after Senate passage of The Common Cents Act, bipartisan legislation addressing the nation’s ongoing penny circulation problems:

“Retailers celebrate the passage of The Common Cents Act. This legislation marks a significant victory for the retail industry by providing much-needed clarity for cash transactions, reducing operational challenges caused by the penny shortage, and establishing a consistent national standard for rounding practices. The challenges stemming from the penny shortage have negatively impacted millions of Americans and the businesses in their communities.  We applaud Congress for keeping their focus on this much needed legislation and providing legal certainty for businesses that follow uniform rounding procedures, enabling retailers to better serve customers in an environment where exact change is often difficult to provide,” said Evan Armstrong, RILA's senior vice president of government affairs. 

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Media Contact: press@rila.org

RILA is the U.S. trade association for leading retailers. We convene decision-makers, advocate for the industry, and promote operational excellence and innovation. Our aim is to elevate a dynamic industry by transforming the environment in which retailers operate.

RILA members include more than 200 retailers, product manufacturers, and service suppliers, which together account for more than $2.7 trillion in annual sales, millions of American jobs, and hundreds of thousands of stores, manufacturing facilities, and distribution centers domestically and abroad.