Pennies No More: Rounding Up in Cash Transactions
Denver News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
The U.S. has stopped producing pennies due to high production costs, leading to cash shortages and states implementing rounding rules. A federal bill for nationwide symmetrical rounding is pending, while several states have bills ready. Consumers and businesses are adapting to the change, with mixed reactions. Studies show businesses might gain from rounding up more than down, and taxes remain fully collected. The Treasury expects savings from pennies, but increased demand for nickels could offset costs.
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