Comment by paxys
3 months ago
Too early to say "ever", considering there has been no act of congress on this matter and the penny continues to be legal tender. The decision to stop minting it is a (legally debatable) executive order, and the next president or even the current one can change their mind about it tomorrow.
lets hope not. This is long overdue and should pose relatively little issue compared to most other recent questionable executive orders.
stop minting and stop accepting is commonly separated to allow adjustment. so likely a later president will just add the second phaseout step.
I agree it's time to follow Canada and the rest of the world but it needs to be done through congress, not executive orders. It needs to have a proper framework for migration and laws for how payments are rounded.
I don’t believe we actually have a law that dictates how to round in Canada. There’s just a government recommendation.
I get that the U.S. is a much lower trust culture, but is it really necessary? The rounding is only for cash transactions.
2 replies →
I say we eliminate both pennies and (significantly more importantly) executive orders
> (significantly more importantly) executive orders
How would that work?
The president is the executive of the federal government and needs to issue directives to employees telling them how to do their jobs.
This is like saying we should get rid of CEOs sending emails.
You know what I mean: executive orders in their current incarnation. Better congressional and judicial oversight, more limited scope of powers.