The Iowa Senate Commerce Committee is considering a statewide policy for retailers that don’t have pennies to provide change during cash transactions. With the U.S. Mint no longer producing pennies, Iowa businesses are struggling to obtain them for their cash registers. If the policy becomes law, cash transactions would be rounded up or down to the nearest nickel. The bill has received support from various stakeholders, including the Community Bankers of Iowa and Casey’s General Stores, as it aims to provide consistency and fairness for consumers and retailers. Kwik Star stores in Iowa have already started phasing out pennies in change, following a similar practice to Canada, which stopped distributing pennies in 2013.
