Ohio Lawmakers Propose Phasing Out Pennies
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Ohio State Representatives Propose Phasing Out Pennies: A New Era of Cash Transactions
Two Ohio state representatives, Bill Roemer and Thomas Hall, have introduced a bill to eliminate pennies in cash transactions. House Bill 737 would round all cash payments to the nearest nickel, while electronic payments remain unchanged. The rounding rules are simple: totals ending in one or two cents drop to zero, three or four cents go up to five, six or seven cents round down to five, and eight or nine cents up to ten. Lawmakers argue this makes sense due to the high cost of producing pennies, which leads to significant losses. The bill has sparked discussions about updating money habits as cash use evolves, potentially simplifying checkout processes and reducing waste. House Bill 737 is now awaiting a committee assignment in the Ohio House, potentially marking the beginning of larger changes in handling small change.
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