President Donald Trump has initiated a proposal to halt the production of new pennies, a move that has garnered unexpected bipartisan support. This announcement was made over the weekend as Trump expressed concerns about the cost-effectiveness of minting the one-cent coin, stating that it costs more than two cents to produce each penny.
In a message shared on Truth Social, Trump urged the need to eliminate waste from the national budget, emphasizing his commitment to fiscal responsibility. "Let’s rip the waste out of our great nation’s budget, even if it’s a penny at a time," he declared.
Democratic Senator Jacky Rosen of Nevada has publicly endorsed Trump’s proposal, labeling it a "common sense move." Rosen, who represents a state that is crucial in national elections, noted that she is open to bipartisan ideas that benefit taxpayers. "I’m not afraid to embrace a good idea when it comes from the other side of the aisle, and I agree with President Trump on this," she stated on social media. Rosen argued that eliminating the penny would lead to substantial savings for taxpayers.
In addition to Rosen, Colorado Governor Jared Polis, also a Democrat, has voiced his support for the initiative. Polis highlighted that not only would the elimination of the penny save taxpayers hundreds of millions of dollars, but it would also have significant environmental benefits. His endorsement further illustrates the unusual coalition forming around this proposal, as many Democrats typically oppose Trump’s policies.
The push to stop minting new pennies comes as part of a broader effort by Trump’s administration to streamline government spending and improve efficiency. This initiative is a part of his Department of Government Efficiency’s ongoing audits aimed at reducing unnecessary expenditures across federal agencies.
Trump’s proposal has sparked discussions about the relevance of the penny in today’s economy, with many arguing that its low value makes it impractical for everyday transactions. As the debate unfolds, it remains to be seen how Congress will respond to this proposal and whether it will gain traction among lawmakers from both parties.
As the 2024 election approaches, this move could be a strategic effort by Trump to appeal to moderate voters and showcase his willingness to work across party lines. With support from unexpected allies, the discussion around the penny could serve as a litmus test for broader bipartisan cooperation on economic issues.