Trump Orders Treasury to Stop Minting Pennies, Citing Rising Costs

President Donald Trump issued a directive for the U.S. Treasury department to cease producing pennies due to costly production rates. President Donald Trump chose to suspend new penny production through his announcement on Truth Social platform because each penny currently costs the U.S. government almost 3.7 cents thus causing substantial financial drain at millions.

Cause Behind the Trump Penny action

American pennies have exhausted their value by costing the government more than their face value since an indefinite period. According to Trump the previous penny production was an inefficient financial practice which has now stopped completely.

Public in general have debated the importance of retaining the penny throughout history. Many economists along with government officials have been debating the usefulness of removing pennies from production since inflation has weakened its purchasing capability. The U.S. Mint continues to operate at a yearly deficit of more than $85 million because of penny manufacturing which intensifies the discussions about stopping one-cent coin production.

Reaction to Trump pennies directive

The order from President Trump received various responses from different parties. The penny abolition will help taxpayers save money and simplify business transactions according to its advocates. The introduction of cash purchase rounding by critics indicates this change might affect consumers with lower income levels.

U.S. blends to the new changes

The elimination of singles and pennies from other global currencies including Canada proved economically sound for those countries without major negative consequences. Supporters advocate for US adoption of the same decision. Financial analysts assert that pennies lack a significant role in current day buying activities.

The stage is set for change according to Trump's order but the implementation process with the Treasury remains unclear until getting approval from Congress. Congress controls the future of the penny as well as how Americans will cope with a cash-based economy.