Simplifying Payments and Rounding Efficiency Act (S.P.A.R.E.)
Why We Are Removing Useless Currency
For too long, the U.S. has been weighed down by outdated and inefficient coinage. The penny and nickel cost more to produce than they’re worth, and even the dime serves little purpose in modern transactions. Inflation has rendered these coins obsolete, and their continued use wastes time and is simply annoying to deal with.
There is strong precedent for modernization. In 1857, the U.S. eliminated the half penny when inflation rendered it insignificant—even though it still had more value than today’s penny, nickel, and dime. Other countries like Canada, Australia, and New Zealand have already eliminated small coins, adopting simple rounding rules with no harm to consumers or the economy. The time to modernize is long overdue.
How It Works
- End production of the penny, nickel, and dime, allowing existing coins to gradually phase out.
- Adopt standardized rounding of all cash transactions to the nearest quarter dollar.
- Require the GAO to report on taxpayer savings and efficiency gains within three years.
Key Terms
- Rounding
- The practice of adjusting the final total of a cash transaction up or down to the nearest quarter-dollar.
- Legal Tender
- Money that must be accepted if offered in payment of a debt, even as coins are phased out of circulation.
Full Text
Simplifying Payments and Rounding Efficiency Act (S.P.A.R.E.)
Section 1: Elimination of Inefficient Coinage
(a) The United States Mint shall immediately cease production of the penny, nickel, and dime.
(b) Existing coins will remain legal tender but will be gradually phased out of circulation.
Section 2: Rounding Standards for Cash Transactions
(a) All cash transactions will be rounded to the nearest $0.25 (quarter-dollar increment).
(b) Rounding shall apply only to final transaction totals and not individual item prices.
(c) Digital transactions remain unaffected—prices can still be set at any value.
Section 3: Adjustments for Businesses and Consumers
(a) The Department of the Treasury will provide businesses with guidelines on proper rounding procedures.
Section 4: Cost Savings and Efficiency Report
(a) The Government Accountability Office (GAO) shall publish a report three years after implementation detailing cost savings and economic impacts.
Section 5: Implementation Timeline
(a) The phasing out of the penny, nickel, and dime shall begin immediately upon passage.
(b) Full rounding implementation shall occur within 12 months of enactment.
Disclaimer
I’m not a lawyer, and this isn’t finalized legislative language — but I’m also not waiting around for someone else to write what’s clearly overdue. We need more single issue, readable bills.
These are serious drafts from someone running for Congress who believes voters deserve more than slogans and vague promises. And yes, once elected, I’ll work with the Office of Legislative Counsel, the Congressional Research Service, and policy experts to refine every section into fully enforceable law. That’s what they’re there for.
But make no mistake — the intent, urgency, and direction are already here.