President Donald Trump announced Sunday that he has instructed Treasury Secretary Scott Bessent to halt the production of pennies, citing the high cost of producing one cent.
President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.
WASHINGTON (AP) — President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the cost of producing the one-cent
President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.
President Trump isn't the first politician to call for the end of the penny — but getting rid of it may not be easy. The value of the 1-cent coin has been debated for decades.
President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin.
WASHINGTON (AP) — President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the cost of producing the one-cent coin.“For far
For years, experts and government officials have called for eliminating the penny, whose purchasing power has fallen because of inflation even as its production costs have risen.
President Donald Trump has ordered the U.S. to stop minting pennies. His surprise announcement comes after decades of unsuccessful efforts to phase out the 1-cent coin. Advocates for ditching the penny cite its high production cost and limited utility.
President Donald announced Sunday night he was instructing the Department of Treasury to stop making new pennies because the cost of minting the coin is too high.
President Donald Trump said he’s instructed the Secretary of the US Treasury to stop making new pennies, writing that they “literally cost us more than 2 cents.” He’s right — in fact, each US penny costs 3.7 cents to produce and distribute as of 2024.
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Trump directs Treasury to stop minting new pennies | Since Then