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A penny saved is ... costing the US millions? Mike Lee sponsors bill to eliminate the 1-cent coin

Senator Mike Lee introduced a bipartisan bill in 2025 aiming to eliminate the U.S. One-cent coin due to its excessive production cost.
The bill addresses the issue of penny production costs surpassing the coin’s nominal value for nearly two decades, including a 20% increase in 2024 alone.
Other countries like Canada, Australia, and New Zealand already stopped minting their lowest-value coins amid similar cost and purchasing power declines.
Lee emphasized that producing pennies costs nearly four times their actual value, a level of inefficiency that no private company would tolerate.
If enacted, the bill could save millions in taxpayer money and align the U.S. With international moves away from low-value coins during declining cash use.

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A penny saved is ... costing the US millions? Mike Lee sponsors bill to eliminate the 1-cent coin

Sen. Mike Lee, R-Utah, and Sen. Jeff Merkley, D-Ore., have a plan to save American taxpayers millions of dollars, titled the

7 days ago·Salt Lake City, United States

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Cowboy State Daily

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Lummis Behind Bill To Force U.S. Mint To Stop Making Pennies

With a $36 trillion national debt, wasteful government spending has to stop, says U.S. Sen. Cynthia Lummis. She said that’s why she’s behind a bill to make the U.S. Mint stop making pennies, which cost more than 3 cents per penny to make.

8 days ago

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CryptoPanic

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The Defiant

Senator Lummis’ Bitcoin Act With Trump Support Proposes 1 Million Bitcoin Purchase to Address $36 Trillion U.S. Debt

8 days ago

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se7en.ws

Bitcoin as a Solution: Senator Cynthia Lummis Proposes Paying Off US Debt with Cryptocurrency

Senator Cynthia Lummis has declared that her initiative, known as the BITCOIN Act, is the only way to save the United States from a $36 trillion debt crisis, and claims that President Donald Trump supports it. Speaking at the Capitol, she said: “Time and the old ways are running out. Bitcoin is our answer.” Image generated by Grok The bill would require an annual purchase of... The post Bitcoin as a solution: Senator Cynthia Lummis proposes to p…

8 days ago

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The Daily Hodl

Senator Lummis Claims Trump Supports Bill That Would Direct US Government To Purchase 1,000,000 Bitcoin - The Daily Hodl

President Donald Trump supports the idea of the US government buying one million Bitcoin (BTC), says Senator Cynthia Lummis. In March, Lummis (R-WY) introduced the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act in the Senate. If passed, the bill would establish a decentralized network of Bitcoin vaults operated by the Department of the Treasury, and it would implement a one-million-unit…

9 days ago

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