Florida Proposes Standardized Rounding Amid Penny Phase-Out

The impending extinction of the penny has prompted Florida legislators to propose standardized rounding rules for cash transactions.

With the U.S. Mint ceasing penny production in November 2025, businesses and consumers face challenges in handling cash payments without the one-cent coin.

In response, Florida lawmakers have introduced bills in both the House and Senate to establish a uniform rounding system.

Under the proposed legislation, cash transactions ending in 1, 2, 6, or 7 cents would be rounded down to the nearest nickel, while those ending in 3, 4, 8, or 9 cents would be rounded up.

This approach mirrors the federal "Common Cents Act," which also advocates for rounding cash transactions to the nearest five cents.

Supporters argue that a standardized rounding system ensures fairness and consistency for both consumers and businesses.

However, some consumers have expressed differing opinions on the matter.

Jasmine Smith, a local shopper, stated, "I think it would be more convenient to round up. Just because we still have nickels."

Conversely, Hadeel Sweatt commented, "Round down for sure for people. You know, help them out as much as we can."

As the availability of pennies diminishes, the need for a clear and consistent rounding policy becomes increasingly pressing.

Florida's proposed legislation aims to address this issue by providing a uniform standard for cash transactions in the absence of the penny.