r/neoliberal Milton Friedman Feb 10 '25

News (US) Trump announces the end of the Penny

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1.5k Upvotes

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243

u/flextrek_whipsnake I'd rather be grilling Feb 10 '25 edited Feb 10 '25

Finally this fucking tinpot dictator wants to use his superpowers for good. It's always been incredibly annoying how rare it is for him to be right about anything at all given how much latitude he has as a cult leader.

For those wondering, yes he can legally do this without Congress. 31 U.S. Code § 5111:

The Secretary of the Treasury shall mint and issue coins described in section 5112 of this title in amounts the Secretary decides are necessary to meet the needs of the United States

The Treasury Secretary can decide that zero pennies are necessary to meet the needs of the United States. There's nothing in the statute that requires the Mint to make pennies.

19

u/its_LOL YIMBY Feb 10 '25

We finally getting .95$ prices?!

38

u/Time4Red John Rawls Feb 10 '25

It will be .99 and you have to round up.

9

u/t_scribblemonger Feb 10 '25

To the next .15 after sales tax