Legal Tender Modernization Act

H.R. 2528, the Legal Tender Modernization Act, proposes several changes to U.S. currency, most notably by establishing a system to round cash transactions to the nearest five cents. Under this bill, total prices for cash purchases would be rounded up or down to the nearest nickel, while non-cash payments like credit cards or checks would remain at the exact cent amount.

The bill also seeks to increase the circulation of the two-dollar bill by requiring the Treasury to release a new design for the note every year for five years. Additionally, the legislation would prohibit any design changes to the one-dollar bill and allow the U.S. government to print currency and security documents for foreign governments and individual U.S. states.