Democratic Assembly Member Roy Freiman, a Democrat from Hillsborough, delivers an “Ode to Pennies” before a bill rounding cash transactions to the nearest five cents is passed by the Assembly. Photo credit: Shohini Mitra/NJ State House News Service
By Shohini Mitra
NJ State House News Service
TRENTON, N.J. – Instead of fiery debate Thursday, Assembly Member Roy Freiman recited his lyrical “Ode to Pennies” about the vanishing copper-colored coin, urging lawmakers to pass his cash-rounding bill.
“Pennies, pennies in my pocket, a penny for my thoughts, a penny for my loafers, a penny lane, now without a name,” the Hillsborough Democrat recited. “The penny, one cent, the first in production, first to take its final bow. No more penny found face up. We all have to find our luck now.”
But some lawmakers opposed the measure.
“I’m about to give my two cents,” joked Republican Assembly Member Dawn Fantasia from Franklin Borough.
“Our kids have lost the ability, basically, to count and do math. We just got our eighth grade scores in on the [standardized math tests] and about 20-25% of eighth graders are proficient and at grade level at math. Those are the kids that are a few years away from working in the shops,” said Fantasia, a school administrator.
She said she fears businesses will be fined in the future when these students are unable to round.
Bill A5233 provides rounding rules which are optional for businesses and only apply to cash transactions.
If businesses agree to round their pennies, they must round to the nearest nickel. Cash transactions ending in 1 or 2 cents, or 6 or 7 cents, would be rounded down to the nearest 0 or 5 cents. Totals ending in 3 or 4 cents, or 8 or 9 cents, would be rounded up.
The legislation allows for consenting customers to pay the difference to round-up charity programs after rounding their transaction.
Should businesses refuse to comply with the rules after disclosing their decision to round, the bill includes financial penalties. Businesses would be fined $1,000 for the first offense, and $2,500 for the second violation. Subsequent violations will face $5,000 penalties each.
The act is a part of a plan to gradually eliminate penny circulation as a response to the end of its federal production in November 2025.
The bill passed 62-4, with nine abstentions including Fantasia. An identical measure is pending in the Senate.
Shohini Mitra is a senior journalism and media studies student pursuing a minor in digital communication, information, and media at Rutgers University.
