‘For a lot too lengthy america has minted pennies which accurately price us greater than 2 cents,’ the president said.
President Donald Trump mentioned on Sunday that he has directed the Treasury Division to cease minting pennies, citing the excessive price of manufacturing the one-cent coin.
“For a lot too lengthy america has minted pennies which accurately price us greater than 2 cents. That is so wasteful!” Trump wrote in a Fact Social submit.
“I’ve instructed my Secretary of the U.S. Treasury to cease producing new pennies. Let’s rip the waste out of our nice [nation’s] price range, even when it’s a penny at a time.”
The Trump administration has centered on decreasing federal spending by concentrating on numerous federal businesses and shedding staff, aside from these dealing with important duties.
Pennies have been manufactured from copper when first established in 1792. At this time, they’re manufactured from copper and zinc, that includes the picture of President Abraham Lincoln since 1909, in response to the Treasury Division.