How Involved Will Smith Is In Bel-Air
Will Smith's producer role on Bel-Air explained
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Trump says he has instructed US Treasury to stop minting new pennies: 'This is so wasteful!'
President Trump announced on Sunday night that he plans to eliminate the manufacturing of pennies, which cost more than they are actually worth.
President Donald Trump announced plans to put a stop to producing pennies, which cost more than their value to make.
"For far too long, the United States has minted pennies which literally cost us more than 2 cents," Trump wrote on Truth Social. "This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies."
He added, "Letâs rip the waste out of our great nationâs budget, even if itâs a penny at a time."
This is the presidentâs latest move to reduce spending in the U.S. after taking office on Jan. 20.
CALIFORNIA FAMILY FINDS 2 MILLION COPPER PENNIES IN OLD HOME
The Department of Government Efficiency (DOGE), which is led by billionaire Elon Musk, posted on X last month that producing the penny is costing American taxpayers tens of millions of dollars, suggesting that it may be one of the items it may consider eliminating.Â
Muskâs initiative, aimed at cutting $2 trillion in federal spending, didnât directly state that the penny would be eliminated, but highlighted that it costs three times more to make than itâs actually worth.
According to the U.S. Mint, each penny costs 3.69 cents to produce in fiscal year 2024, costing taxpayers $119 million. This marked the 19th consecutive year in which production exceeded its face value.Â
3 REASONS WHY ELON MUSK WANTS TO GET RID OF THE PENNY
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In the U.S., the penny was one of the first coins made by the U.S. Mint after its establishment in 1792. When it was first produced, the coin was larger and made of pure copper. Todayâs smaller coin is made mostly of zinc, according to the U.S. Mint.
Fox News Digitalâs Daniella Genovese contributed to this report.
Greg Wehner is a breaking news reporter for Fox News Digital.
Story tips and ideas can be sent to Greg.Wehner@Fox.com and on Twitter @GregWehner.
Will Smith's producer role on Bel-Air explained
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The retired Eagles center shared a lengthy X post early Tuesday discussing his admiration for both his former team and his brother.
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Friendship looks like a wacky ride.
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Itâs âThe Cable Guyâ for the 2020s.
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Cardi B has recalled the US Secret Service giving her a â??hard timeâ? at the Super Bowl, and mentioned that her Uncle was deported.
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The tale of Ben Affleck and Matt Damon is one of Hollywood's greatest-ever love stories, so it's surprising he managed to narrow down the field to just two.
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Emily Ratajkowski attended the Coach Fall RTW 2025 fashion show as part of New York Fashion Week and she wore a cozy light brown suede coat and matching knee-high boots.
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Shift Up has revealed that Stellar Bladeâs PC release will include extra content and optimizations that will make it the definitive experience.Â
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Justin Bieber turned heads with his latest public outing, after stepping out in a bathrobe amid rumors of marital issuess with his wife.
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A24 has released the first trailer for 'Friendship,' starring Tim Robinson and Paul Rudd.
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Twitter (X), Inc. was an American social media company based in San Francisco, California, which operated and was named for its flagship social media network prior to its rebrand as X. In addition to Twitter, the company previously operated the Vine short video app and Periscope livestreaming service
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