President Trump Proposes Ending Penny Minting Due to Production Costs

President Trump has instructed the Treasury Department to stop minting new pennies due to escalating production costs, which has sparked a debate over the necessity of this coin.

In response to growing concerns regarding the production costs associated with the one-cent coin, President Donald Trump announced plans to terminate the minting of new pennies. During an interview published on February 10, he revealed his directive to the Treasury Department, citing financial implications as the primary rationale for this decision. The manufacturing of pennies has become increasingly costly, prompting discussions on the relevance of retaining this denomination in modern currency.

The announcement by President Trump to cease the minting of pennies addresses the rising costs of production, reflecting broader conversations about the practicality of maintaining low-denomination coins in circulation.

Original Source: www.goshennews.com