(TheRedAlertNews.com) – In an intriguing twist of bipartisan agreement, the gay liberal Colorado Governor Jared Polis agrees with President Donald Trump’s decision to end penny production.
See the tweet below!
Trump’s rationale hinges on the wastefulness of minting a coin that costs more than its value, and Polis is right there with him.
President Trump announced his directive to the Treasury Department to halt the minting of new pennies.
He shared this decision via his Truth Social platform, calling the penny production “wasteful.”
Producing a single penny costs about 3.7 cents, resulting in a $85.3 million loss in 2024 when nearly 3.2 billion pennies were produced, Newsweek reports.
Colorado Governor Jared Polis, known for his pragmatic approach, praised Trump’s decision.
“As well as saving taxpayers hundreds of millions of dollars, there are major environmental benefits to eliminating the penny. This is a great move,” he declared.
Besides being cost-effective, eliminating the penny sets a modern precedent for monetary policy.
The unnecessary costs associated with penny production don’t end at minting.
Handling these coins increases expenses further, making the discussion long overdue.
Many experts suggest discontinuing the penny could cut costs, speed up transactions, and bring U.S. currency practices in line with countries like Canada, which stopped minting pennies in 2012.
The debate continues about whether Trump has the legal authority to end penny minting through an executive order.
Typically, currency specifications fall under Congress’s jurisdiction.
While some bills have attempted to address this, a clear path forward demands both Treasury action and congressional support.
Democratic governor applauds Trump for scrapping the penny: ‘Great move’ https://t.co/UTWshKjjef pic.twitter.com/j8qv3nBtNk
— New York Post (@nypost) February 10, 2025
Trump’s initiative forms part of a larger governmental cost-cutting effort.
Paired with this, Elon Musk’s Department of Government Efficiency (DOGE) backs the monetary reform, reviving the conversation about waste management within federal operations.
Besides penny production, President Trump and Governor Polis see eye to eye on the necessity for reforms that boost efficiency.
Although disagreements persist, like Polis’s criticism of Trump’s tariffs as burdensome to Americans, Trump’s penny decision signifies a possible shift toward fiscally responsible actions.
Overall, the initiative to cease penny production opens a broader discourse on modernizing the U.S. monetary system, emphasizing bipartisan collaboration.
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