Elon Musk wants to kill the penny. The little coin has won this battle before.
Elon Musk has promised to find upward of $2 trillion in savings in a federal budget that is projected to spend $7 trillion in 2025 — and if he has to rifle through the nation’s couch cushions to do so,
Donald Trump, Elon Musk could get rid of this U.S. coin forever. Here’s why
Donald Trump is in office, and he has signed an executive order to create DOGE – the Department of Government Efficiency — with Elon Musk leading the way. The purpose of DOGE is, supposedly, to cut away the excess spending in government, and there are a lot of programs and job positions that have reportedly already been added to the chopping block.
Elon Musk’s DOGE is coming for the penny
Elon Musk’s Department of Government Efficiency has a new target to cut down costs: the US penny. DOGE said on X that the penny costs over 3 cents to make and cost US taxpayers over $179 million in the 2023 fiscal year.
Elon Musk’s DOGE setting its sights on the penny
The Department of Government Efficiency hinted it may be looking to eliminate the penny. Elon Musk's initiative says production of the coin is costing taxpayers millions of dollars.
Elon Musk takes on his biggest challenge yet: Getting rid of the penny
According to the U.S. Mint, the cost to produce a single penny jumped 20% during the 2024 fiscal year to 3.69 cents.
Kill the Penny? Elon Musk’s DOGE Found a Way to Save Money.
The savings from eliminating the cent might seem like small change, but every penny counts in dealing with the U.S. fiscal deficit.
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