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Trump orders stop to penny production: How the end to copper coin could cost Americans more
President Donald Trump ordered U.S. Treasury Secretary Scott Bennett in February to stop the production of 1-cent coins after Elon Musk's Department of Government Efficiency pointed out the cost of minting pennies. "Let's rip the waste out of our great nation's budget, even if it's a penny at a time," Trump posted to Truth Social on Feb. 9.
The penny coin is getting phased out, a cost-cutting move that could ripple through consumer behavior, retailers' pricing ...
Phyllis Resnick, Colorado Futures Center's lead economist, told Newsweek that the loss of the penny will become the "most burdensome on low-income households," pointing to their purchases of ...
The U.S. government is no longer going to mint pennies, and soon cash retail transactions will be rounded to the nearest ...
This transition is expected to further reduce the impact of eliminating the penny, as fewer transactions require physical change[20]. Impact of coin production costs on the national budget The ...
As part of the Trump administration’s efficiency plan, the penny may cease being produced ... “There will be essentially no impact at all,” says Mark Schweitzer, associate professor of ...
So how would a world without pennies look? Reporters Oyin Adedoyin and Joseph Pisani join to discuss how the move could impact consumers, and why one man has lobbied for decades to save the cent.
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