US EditionPortland Democrat agrees with Trump, says ditching the penny makes ‘common cents’
- A bipartisan group of U.S. Lawmakers introduced the Common Cents Act on April 30, 2025, to end penny production in the United States.
- The bill follows President Trump’s February 2025 directive to the Treasury to stop minting pennies due to rising production costs, though experts questioned his authority to act alone.
- The act would require the Treasury Department to cease producing pennies for general circulation within one year but allow minting for collectors if sales cover costs.
- In fiscal year 2024, the U.S. Mint experienced a loss of $85.3 million after producing close to 3.2 billion pennies, each costing around four cents to manufacture, leading lawmakers to criticize the penny as a costly burden on taxpayers.
- If enacted, the legislation would provide legal authority for the directive and aligns with federal cost-cutting efforts, while pennies would remain legal tender and cash transactions would round to five cents.
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New legislation seeks to drastically change US money: report
A bipartisan bill introduced in the Senate on Thursday calls for the U.S. Mint to end production of the penny, according to an exclusive report from the Wall Street Journal.Introduced by Sens. Jeff Merkley (D-OR) and Mike Lee (R-UT), the bill says the coins would still be considered legal tender and...
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