Modernize and Improve our National Tender Act of 2025; MINT Act of 2025
Summary
The MINT Act of 2025 proposes changes to the composition of the 5-cent coin and the elimination of the 1-cent coin. It allows for alternative materials in the 5-cent coin to reduce production costs. The Act also mandates the cessation of 1-cent coin production, except for numismatic purposes, while ensuring existing 1-cent coins remain legal tender.
Expected Effects
This act will likely lead to cost savings in coin production for the government. Consumers may experience minor inconveniences adjusting to transactions without pennies. The impact on businesses will likely be minimal, as they already deal with rounding in many transactions.
Potential Benefits
- Potential cost savings for the government in coin production.
- Simplification of transactions by eliminating the need for pennies.
- Reduced demand for raw materials used in penny production.
- Continued legal tender status of existing pennies protects their value.
- Allows for innovation in coin composition to reduce costs.
Most Benefited Areas:
Potential Disadvantages
- Psychological impact of no longer having pennies.
- Potential for rounding discrepancies in cash transactions, though likely minimal.
- Possible initial resistance from the public due to the familiarity of the penny.
- The numismatic exception could create a niche market, potentially driving up the value of pennies.
- Potential impact on charities that rely on penny donations.
Constitutional Alignment
The Act appears to align with the constitutional power granted to Congress in Article I, Section 8, Clause 5, which gives Congress the power to coin money and regulate the value thereof. The Act does not appear to infringe upon any specific constitutional rights or limitations. The changes to coin composition and the elimination of the penny are within the scope of Congress's monetary authority.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).