Andy Biggs, Republican Rep. of Arizona It was introduced The coin will take place Tuesday, with President Donald Trump's proposal to halt production of new penny.
The bill, known as the Currency Optimization, Innovation and the National Savings Act, bans the production of new pennys for the next decade, according to the bill's text obtained only by Blaze News. US mint costs an average of 3.69 cents, producing just one cent worth of coins, giving the financial concerns of Trump and his allies.
“All cents matters when you have more than $36 trillion in debt.”
The bill also points out that enough pennies have already been created to meet demand and that no further production is needed for the next decade.
“8.5 million taxpayer dollars were spent on the production of the new penny in 2024, and no one even hit the eyes,” Biggs said. “President Trump and the government's efficiency have spent weeks eradicating government waste and fraud. Congress supports the efforts by codifying President Trump's top American priorities. It must. Like a move to stop casting a new penny. Single cent count.”
“If it's too long, the US has made pennies, and that's literally costing more than two cents,” Trump said. I said In a true social post. “This is a waste! I have instructed my U.S. Treasury secretary to stop producing new penny.[‘]S budget, even if it's a penny at once. ”
This is the latest initiative that has led lawmakers on the Maga to prioritize liability spending on the hill. The government's efficiency department is at the forefront of this effort and often serves as a blueprint for lawmakers.
“Penny will cost more than three cents and cost more than $179 million in 2023.” I'll read 1x post from your Doge account. “This mint produced over 4.5 billion pennies in 2023 and about 40% of the 11.4 billion coins for circulation. Pennies (or 3 cents!) for your thoughts.”
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