(FreePressBeacon.com) – In a surprise to both Republicans and Democrats, Colorado’s Democrat Governor Jared Polis has endorsed President Trump’s proposal to end penny production, calling it a “great move.”
See the tweet below!
This unlikely alliance highlights common sense fiscal responsibility, putting America on the path to economic efficiency by trimming unnecessary expenditures.
On Monday, Colorado Governor Jared Polis publicly backed President Trump’s order to stop minting new pennies.
Polis, a Democrat, cited both taxpayer savings and environmental benefits as reasons for his support.
For those focused on fiscal conservatism, eliminating the penny represents a step towards reducing government waste and optimizing financial resources.
President Trump announced his directive to halt the production of pennies via his Truth Social page.
“For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful!” he posted, underscoring the economic inefficiency of the penny.
The Treasury reported that in the 2024 fiscal year, the U.S. Mint lost $85.3 million due to the production of nearly 3.2 billion pennies, Newsweek stresses in a report.
The cost to produce each penny is approximately $0.037, while nickels aren’t doing much better at $0.14 each.
Both coins cost more to make than their face value, questioning the rationale behind their continued production.
Governor Polis noted the strategic approach, aligning it with his ongoing advocacy for currency modernization, such as replacing the dollar bill with a coin for further savings.
“As well as saving taxpayers hundreds of millions of dollars, there are major environmental benefits to eliminating the penny. This is a great move,” Jared Polis said.
This elimination is part of a larger campaign spearheaded by Trump’s newly established Department of Government Efficiency (DOGE) under Elon Musk’s advice.
However, changing currency regulations may require congressional approval, creating uncertainty about the directive’s future.
This decision invites debates on whether executive actions suffice for such measures or if legal interventions are necessary.
While some lawmakers have previously proposed bills to suspend penny production, their passing has been stalled.
Trump’s directive now forces the conversation, potentially paving the way for tangible reform.
Countries like Canada eliminated their own penny in 2012 and have adjusted smoothly. Could the U.S. follow suit?
Critics worry about legal challenges and pushback, given that Congress rather than the President traditionally decides currency specifications.
But the momentum for currency reform is hard to ignore, especially when supported by bipartisan figures like Jared Polis.
Colorado Governor Jared Polis cheered Trump's move for additional environmental benefits if the penny's production is haulted. https://t.co/eBLpNzFwFu
— Newsweek (@Newsweek) February 10, 2025
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