The Fox Business’ Lydi Hu reports the latest plan to cut the spending during an appearance on ‘Verni & Company’ on the government’s efficiency department.
US government Penny has been phasing out for centuries, which is estimated to save $ 56 million each year in a cost cut step.
Treasury made its final order of blank penis this month and will stop in the beginning of 2026. As the penny fades with use, businesses have to do round up or down to the nearest 5 cents, The Wall Street Journal Informed
‘Make Sense’: GOP, Dames united behind Trump’s plan to fire Penny
By stopping the production of Penny, the coin of the US Mint-Treasury projects an urgent annual savings of $ 56 million in the producing bureau-cum-cum-less material cost. In the last 10 years, the cost of making coins has increased to slightly than 1 percent. Per moneyA spokesperson of the Treasury Department told Fox Business.
On 10 February, a pile of American penis is seen in this photo portrayal at Washington, DC. (Saul Loaib / AFP / Getty Images)
This step is part of the ongoing bilateral attempt to stop the production of the coin. In February, President Donald Trump Announced a plan to stop the production of penis, which costs more than their value for mint.
Trump’s Penny Policy: It makes sense to stop making Saint
Trump wrote on the truth social, “For a very long time, the United States has collided with penis, which truly spends us more than 2 cents.” “It’s very useless! I have instructed my secretary of American Treasury to stop production of new penny.”
Washington, Treasury Building in DC, is the headquarters of the Department of Treasury in the United States. (Nicholas Economo / Narfoto / Getty Images)
This year, two Bipartisan bill Was introduced to get rid of Penny.
How can Trump get rid of Penny – and what can come next for your pocket change
In May, the sensor. In April, Reps. Lisa McClen, R-Mich., And Robert Garcia, D-Calif.
President-Function Donald Trump speaks at a House Republican Conference meeting at Hyatt Regency on Capital Hill in Washington, DC on 13 November 2024. (Elison Robert-Pew / Getty Images)
Whereas Congress decides The size and metal materials of coins such as currency specifications, the Treasury has the power to prevent the production of new coins.
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The US currently has about 114 billion penny, but has been reduced. After being established in 1792, Penny was one of the first coins made by US Mint.
