Colorado Gov. Jared Polis (D) on Monday subsidized President Trump’s course to halt penny manufacturing, calling it a “great move.”
On Sunday, Trump introduced that he had asked that the Treasury Division forestall generating pennies.
“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” Trump stated in his Reality Social submit on Sunday.
Polis stated the transfer was once additionally environmentally pleasant, in a reaction to Trump at the social platform X.
“As well as saving taxpayers hundreds of millions of dollars, there are major environmental benefits to eliminating the penny. This is a great move,” Polis stated.
In fiscal 2024, the price of creating a penny was once with reference to 3.7 cents, the nineteenth consecutive fiscal yr the coin has price over face price to make, in step with an annual file from the U.S. Mint.
Tech billionaire Elon Musk, the chief of the Division of Govt Potency (DOGE), additionally went after the penny on X ultimate month.
“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 produced. Penny (or 3 cents!) for your thoughts,” DOGE stated.
Pennies are most commonly product of zinc, together with some copper. The U.S. Mint stated in its annual file that it misplaced $85.3 million at the just about 3.2 billion pennies it produced in fiscal yr 2024.
Former President Obama subsidized getting rid of the penny way back to 2013.
“This is not going to be a huge savings for government, but anytime we’re spending more money on something that people don’t actually use, that’s an example of something we should probably change,” Obama stated on the time.
Polis raised eyebrows after November’s election when he got here out in certified toughen of Robert F. Kennedy as Trump’s nominee to go Well being and Human Products and services. Polis confronted blowback from Kennedy’s critics and others within the Democratic birthday party, who’ve raised issues in regards to the outspoken anti-vaccine activist main the U.S. public well being machine.
“I was raised in a way where I try to look at the glass as half-full,” Polis stated in November when requested by way of CNN’s Dana Bash about Kennedy’s file on vaccines.
A spokesperson for the governor stated he supported a few of Kennedy’s priorities round fitter meals methods and lowering environmental toxins.
