President Trump's recent announcement to halt penny production has prompted legal inquiries regarding presidential authority versus congressional power over currency. While he argues this move will save taxpayer money, experts assert that such a significant economic change needs congressional approval, as outlined in the Constitution. The production of pennies reportedly costs taxpayers heavily, with figures from Elon Musk's Department of Government Efficiency suggesting overruns. Historically, changes in coinage, including the abolition of the half-cent coin, occurred via legislation, reinforcing the need for Congressional involvement.
President Trump has ordered the Treasury to stop minting pennies, aiming to cut waste; however, his authority to do this unilaterally is legally questionable.
Elon Musk's Department of Government Efficiency claims the penny costs taxpayers over 3 cents to make, raising eyebrows about its economic viability.
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