Political Consensus on Trump’s Move to Eliminate the Penny

Washington D.C. – In an unusual but significant show of bipartisanship, lawmakers from both the Democratic and Republican parties have expressed support for President Donald Trump‘s recent decision to eliminate the penny. This move, discussed in a series of interviews on Capitol Hill, was described by some lawmakers as a “common-sense” solution to a long-standing issue.

Trump’s Announcement

On Sunday, Trump took to social media platform Truth Social to propose that the U.S. Treasury Department cease the production of new pennies. He highlighted the economic impracticality of minting these coins, stating that it costs more than two cents to produce each one-cent coin. This announcement has generated a wave of support from various members of Congress.

Bipartisan Support from Lawmakers

Fox News Digital gathered responses from multiple lawmakers regarding their thoughts on the elimination of the penny, and it appears that consensus is building across party lines. Rep. Jared Moskowitz, D-Fla., proclaimed that eliminating the penny might be “the best” action Trump has taken during his presidency. He acknowledged, “In all the things he’s done in his first month in office, that might be the best. We haven’t printed the penny since 2023, so I’m good with him eliminating it.”

More Voices Join the Chorus

Extending his support, Rep. Jamie Raskin, D-Md., remarked, “I agree with eliminating the penny.” Other Democrats, including Rep. Ami Bera, D-Calif., echoed similar sentiments, noting that it is nonsensical to continue producing a coin that costs more to make than its value. “If it takes two cents to make one cent, it kinda makes sense, doesn’t it?” asked Rep. Carlos Giménez, R-Fla.

Financial Implications

The financial implications of minting pennies are stark. According to the U.S. Mint, the agency responsible for producing U.S. coins, the Treasury Department incurred a loss of over million in 2024 due to penny production. These figures raise questions about the long-term viability of continuing to mint a coin that serves little purpose economically.

Local Business Considerations

Rep. George Latimer, D-N.Y., spoke of discussing the potential changes with local businesses in his community. His approach emphasizes gauging the impact of eliminating the penny on these establishments. “I’ve talked to some local businesses to see how that affects them. The question would be, does it make their life easier or more difficult?” Latimer explained. He expressed a desire to advocate for policies that genuinely aid local commerce.

The Bigger Picture

The discussion around eliminating the penny opens up a broader dialogue about financial efficiency in government spending. As the cost of raw materials and production continues to rise, the financial practicality of maintaining low-value coins is increasingly called into question. Lawmakers are beginning to weigh the operational costs against the minimal utility these coins offer to consumers.

Conclusion: A Step Towards Modernization

Trump’s initiative to eliminate the penny reflects a growing recognition among lawmakers of the need for modernization in American currency. Although change often meets with resistance, the overwhelming support from both sides of the aisle indicates that there may be a path forward for reforming how the United States approaches its coinage system.

As the conversation continues, it will be interesting to monitor how the Treasury Department reacts to this collective call for change and whether the dollar’s future will rely less on the outdated cent.