Washington, DC – The Nationwide Grocers Affiliation (NGA), the commerce affiliation representing the impartial grocery store trade, at this time applauded the Senate for passing the bipartisan Widespread Cents Act, laws that gives retailers with clear authorized authority and protections to spherical money transactions to the closest nickel after the tip of penny manufacturing in 2025. The Senate’s passage of the invoice follows a yr of sustained advocacy by NGA’s Authorities Affairs workforce.
The laws, sponsored by Sen. Cynthia Lummis (WY) and Kirsten Gillibrand (NY), establishes a nationwide framework for permitting companies to proceed serving clients effectively and pretty as pennies fall out of circulation.
Final yr, the U.S. Mint stopped producing pennies, whereas Federal Reserve coin distribution facilities nationwide skilled vital shortages. Consequently, many retailers have struggled to supply precise change for money purchases and have adopted rounding insurance policies regardless of the absence of clear authorized safeguards.
“Unbiased grocers serve hundreds of thousands of Individuals every day and the sudden scarcity of pennies has brought about vital operational difficulties and regulatory uncertainty for retailers,” mentioned Stephanie Johnson, NGA senior vice chairman and head of presidency affairs. “The Widespread Cents Act establishes clear, constant pointers companies have to deal with money transactions pretty and effectively whereas minimizing inconvenience for shoppers.”
NGA joined different most important road enterprise teams urging the Senate to assist this necessary laws.
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Concerning the Nationwide Grocers Affiliation
NGA is the nation’s main commerce affiliation representing the retail and wholesale neighborhood grocers that comprise the impartial sector of the meals distribution trade. An impartial retailer is a privately owned or managed meals retail firm working in quite a lot of codecs. The impartial grocery sector accounts for 2 % of the nation’s general economic system and generates greater than $557.5 billion in annual financial exercise, 1.5 million jobs, $115 billion in wages, and $27 billion in taxes. NGA members embrace retail and wholesale grocers positioned in each congressional district throughout the nation, in addition to state grocers’ associations, producers, and repair suppliers
