Colorado Gov. Jared Polis (D) has a suggestion for President-elect Donald Trump’s new “Department of Government Efficiency,” a non-governmental agency that will be lead by billionaire Elon Musk... The penny costs over 3 cents to make and cost US taxpayers over $179 million in FY2023. The Mint produced over 4.5 billion pennies in FY2023, around 40% of the 11.4 billion coins for circulation ... WASHINGTON — Donald Trump’s “Penny Plan” sounds like a painless pinprick in the federal budget — a 1 percent annual cut in a chunk of government spending, adding up to huge savings. “One penny,”... President Trump’s newly minted Department of Government Efficiency has a shiny new target for its cost-cutting mandate — the United States penny which now costs over three cents to manufacture. President Donald Trump campaigned on, among other things, cutting costs. More than a week into Trump’s second term, it seems his administration is sparing no expense — not even a penny’s worth. The Department of Government Efficiency (DOGE), Trump’s cost-cutting task force run by billionaire Elon Musk, recently hinted at the possibility of decommissioning.
If Trump moves on the penny, it wouldn’t be the first time in U.S. history that the government decommissioned a coin. The U.S. used to produce half-cent coins beginning in 1793, when the U.S. Treasury began producing the first circulating coins. The dollar was worth a lot more at the time compared to today. One of Elon Musk’s first goals in his new role as an advisor to Donald Trump may be to eliminate the penny, according to a comment his new advisory board made on X. President Donald Trump campaigned on, among other things, cutting costs. More than a week into Trump’s second term, it seems his administration is sparing no expense — not even a penny’s worth. The Department of Government Efficiency (DOGE), Trump’s cost-cutting task force run by billionaire Elon Musk, recently hinted at the possibility of decommissioning.
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