Trump said he wants the Treasury Department to stop minting pennies because of their high manufacturing costs.
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PresidentDonaldTrumpunveiledplansSundaytohaltproductionofthepenny—butgettingthatinitiativeunderwayrequiresafewadditionalstepsandpossiblycongressionalapproval.
Additionally,whileTrumpsaidheinstructedtheTreasuryDepartmenttostopmintingthemduetotheirhighcosts,supportersofthepennyclaimit’swisertoevaluatechangestothenickelinstead.
“Forfartoolong,theUnitedStateshasmintedpennieswhichliterallycostusmorethan2cents,”TrumpwroteonTruthSocialonSunday.“Thisissowasteful!IhaveinstructedmySecretaryoftheUSTreasurytostopproducingnewpennies.”
MUSK’SNEXTTARGET?TRUMPSAYSDOGEWILLLOOKATDEPARTMENTOFEDUCATION,PENTAGONFUNDING
Infact,producingpenniesisevenmoreexpensivethanTrump’snumbers.Accordingtoa2024U.S.Mintreport,itcostsnearly3.69centstomintasinglepenny.Thecoinsareprimarilymadeofzincandthencoveredincopper.
Trump’sstatementcomesafterTeslaandSpaceXCEOElonMusk,whoishea
