Republican Rep. Andy Biggs of Arizona introduced the COINS Act on Tuesday that would implement President Donald Trump's proposal to halt the production of new pennies.

The bill, known as the Currency Optimization, Innovation, and National Savings Act, would prohibit the production of any new pennies for the next decade, according to the bill text obtained exclusively by Blaze News. It costs the U.S. Mint an average of 3.69 cents to produce a coin worth just one cent, giving Trump and his allies fiscal concerns.

'At more than $36 trillion in debt, every single cent counts.'

The bill also notes that there have already been enough pennies minted to meet the demand and that further production won't be necessary for the next decade.

“Eighty-five million taxpayer dollars were spent on the production of new pennies in 2024, and no one even batted an eye,” Biggs said. "President Trump and the Department of Government Efficiency have spent weeks rooting out government waste and fraud. Congress must support their efforts by codifying President Trump’s America First priorities — like his move to stop minting new pennies. At more than $36 trillion in debt, every single cent counts."

"For far too long the United States has minted pennies which literally cost us more than 2 cents," Trump said in a Truth Social post. "This is so wasteful! I have instructed my Secretary of the US Treasury to stop producing new pennies. Let's rip the waste out of our great nation[']s budget, even if it's a penny at a time."

This is the latest effort MAGA-aligned lawmakers have led on the Hill to prioritize responsible spending. The Department of Government Efficiency has been at the forefront of the effort and has often served as a blueprint for lawmakers.

"The penny costs over 3 cents to make and costs US taxpayers over $179 million in FY2023," reads one X post from the DOGE account. "The Mint produced over 4.5 billion pennies in FY2023, around 40% of the 11.4 billion coins for circulation produced. Penny (or 3 cents!) for your thoughts."

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