Bipartisan Support Grows for Trump’s Proposal to Eliminate the Penny

Bipartisan Support Grows for Trump’s Proposal to Eliminate the Penny

Washington D.C. – A rare moment of agreement has emerged among lawmakers from both parties concerning President Donald Trump’s recent initiative to eliminate the penny. This decision, described by many as ‘common sense’, highlights a rare instance of unity in an otherwise divided Congress, as representatives acknowledge the impracticality of continuing to mint a coin that costs more to produce than its actual value.

On a recent Sunday, Trump announced via a post on Truth Social that he has directed the U.S. Treasury Department to cease the minting of new pennies. He pointed out the economic inefficiency of the one-cent coin, noting that it costs more than two cents to create a single penny.

In conversations with Fox News Digital, various members of Congress expressed their support for Trump’s plan. Their comments reflected a blend of fiscally responsible reasoning and a sense of practicality regarding everyday transactions.

Lawmakers Weigh In on the Penny’s Future

Representative Jared Moskowitz, a Democrat from Florida, spoke enthusiastically about the potential impact of eliminating the penny. He remarked that this decision could be one of the most sensible actions taken during Trump’s presidency.

“In all the things he’s done in his first month in office, that might be the best,” Moskowitz commented. He added that since the U.S. Mint has not produced any pennies since 2023, he views the elimination of the coin as a positive step.

Widespread Consensus Across the Aisle

Other Democrats echoed Moskowitz’s sentiments. Representative Jamie Raskin, also a Democrat from Maryland, stated, “I agree with eliminating the penny.” His statement underscores a shared perspective among legislators that the penny’s utility is diminishing.

Furthermore, Representative Ami Bera from California noted, “It costs more to make a penny than it’s worth, so if that’s what he wants to do, that’s fine.” This straightforward assessment reflects a pragmatic approach to government spending and resource allocation.

The Economic Argument Against the Penny

Data from the U.S. Mint bolsters the argument for eliminating the penny. In 2024 alone, the Treasury Department incurred losses exceeding $85 million on penny production. Such significant financial losses prompt inquiries into the long-term viability of minting a currency that has limited purchasing power.

Representative Carlos Giménez, a Republican from Florida, articulated this fiscal perspective succinctly, asking, “If it takes two cents to make one cent, it kinda makes sense, doesn’t it?” His remarks encapsulate the growing frustration among lawmakers about the inefficiencies within the current currency system.

Local Businesses and the Penny Debate

The conversation surrounding the penny’s future also extends into local communities. Representative George Latimer, a Democrat from New York, is actively engaging with local businesses to gauge how this potential change may affect them. He emphasized the need to prioritize the businesses’ perspectives in the discussion.

Latimer stated, “I’ve talked to some local businesses in our community to see how that affects them. And the question would be, does it make their life easier or more difficult?” This approach highlights the importance of understanding the practical implications for everyday commerce when considering currency changes.

Finding Common Ground in Uncertain Times

The bipartisan agreement on eliminating the penny showcases a rare and welcome instance of collaboration in Congress. As economic pressures mount and public discussions increasingly center on efficiency and practicality, lawmakers appear willing to set aside partisan differences for the sake of fiscal responsibility.

The ongoing debate surrounding currency and its relevance in modern society has raised important questions about the future of money. The elimination of the penny may be a breakthrough in reevaluating how currency impacts both consumers and businesses alike.

While lawmakers proceed with discussions regarding the penny’s discontinuation, it becomes clear that practical solutions have garnered widespread support across party lines. The pending decision symbolizes hope for more instances of cooperation in tackling pressing national issues.

The Path Forward

As the discussion unfolds, the focus remains on how to implement any changes effectively. Moving away from the penny will undoubtedly require adjustments in pricing and transaction methods both at the register and within financial systems.

Nevertheless, lawmakers illustrate through their shared commitment that a practical solution to a longstanding issue is possible, providing a glimmer of optimism in an often contentious political landscape. While the future of the penny is uncertain, the growing consensus among lawmakers signals the potential for significant change in the realm of American currency.