New York State Businesses To “Adjust” Your Bills Soon?

There is a renewed push top ban the penny in the United States and for many, it makes a lot of sense.

The summer is almost here and kids across New York State are already excited about the summer break from school. When they cruise on their bikes, or walk to meet friends, barley any of them will be carrying cash, let alone pennies.

Both parties of Congress seem to agree that the penny has become obsolete.

Goodbye To Pennies!

It was just a couple of months ago that the idea to ban the penny production started with President Trump.

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The Associated Press posted a story that detailed the plan according to President Trump, that would end the production of pennies in the United States.

“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump wrote in a post Sunday night on his Truth Social site. “I have instructed my Secretary of the US Treasury to stop producing new pennies.”

But now we are seeing a new bill introduced in Congress that moves that notion forward.

According to a post from Fulcrum: "A new bill in Congress would suspend production of both the penny and nickel for 10 years. The bill also contains a provision clarifying that all existing pennies and nickels ever produced would continue to remain as legally usable money".

Adjusting Bills In New York State?

Most people don't carry cash anymore. In Canada, they have already gotten rid of the penny. In fact, when you cash out at a store or restaurant, they either round up or round down in order to eliminate the need for loose change to be exchanged!

"As pennies exit circulation, only cash payments will need to be rounded, either up or down, to the nearest five-cent increment".