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President Donald Trump They announced plans to stop coins production, which costs more than their value.
“For too long, the United States has been cooked by little things that literally cost us more than 2 cents,” Trump wrote about the truth of Social. “This is so scattered! I ordered my US Treasury Secretary to stop producing new little things.”
He added: “Let’s get rid of the waste from the budget of our large nation, even if it is a penny at once.”
This is the latest move of the president to reduce consumption in the US after he took his duty on January 20th.
The California family finds 2 million copper pennies in the old home
President Trump plans to eliminate the forging of the new pennies. (Olivia Oxley via AP)
The Government Efficiency Department (Doge), which leads a billionaire Elon Musk, announced on the X last month that the production of money costs US taxpayers tens of millions of dollars, suggesting that it is one of the items to consider.
Trump said money is worth less than it costs production. (Getty)
The men’s initiative, aimed to reduce two trillion of dollars of federal consumption, did not directly claim that Penny would be eliminatedBut he pointed out that it costs three times more than it really is.
Trump said the coin “cost us more than 2 cents” for the mint. (Campaign Donald Trump 2024)
According to the US mint, each penny costs 3.69 cents for production in the fiscal year 2024, which cost taxpayers $ 119 million. This marked the 19th year in a row in which production exceeded its nominal value.
3 reasons that Elon Musk wants to get rid of the little things
Elon Musk runs the Government Efficiency Department. (Anna Moneymaker/Getty Images)
In the United States, Peni was one of the first coins made by US mint after its founding in 1792. When it was first produced, the coin was larger and made of pure copper. Today’s smaller coin is made mainly from zinc, according to American mint.
Fox News Digital’s Digital’s Daniella Genovese contributed to this report.
