penny

Congress has passed and sent to President Trump legislation that would formally end production of the US penny, moving to retire the one-cent coin after years of debate over its cost and usefulness. Treasury loses money making each penny, and officials have argued the coin is no longer practical. Trump's signature would wind down minting of the coin.

Congress has approved a bill to end production of the US penny, sending the measure to President Trump to sign into law. If enacted, the US Mint would stop striking one-cent coins, which cost more to make than they are worth. The move follows long-running debate over the penny's expense and declining use in everyday cash transactions.