WASHINGTON, DC—Today, the House of Representatives passed the American Innovation $1 Coin Act introduced by Congressman Jim Himes (CT-04). The bill requires the Secretary of the Treasury to mint coins in recognition of American innovation and pioneering efforts of individuals or groups from each of the 50 States, the District of Columbia, and U.S. Territories. U.S. Senator Chris Murphy (D-Conn.) introduced the bill in the U.S. Senate.
Since the bill was also passed in the Senate, it will now head to the President’s desk for his signature before becoming law.
“This bill will support jobs and the industry around collectible coins, including here in Connecticut, all without costing taxpayers at all,” said Himes. “I want to thank the members who worked in such a collaborative process with my office to pass this legislation,” said Himes. “My special thanks to Majority Leader Kevin McCarthy, Minority Whip Steny Hoyer, and Financial Services Committee Chairman Jeb Hensarling. In the Senate, I want to thank my friend, and our own Junior Senator, Chris Murphy, who introduced and advanced the bill in the upper chamber.
The bill allows the Mint to release four $1 coins each year featuring the likeness of a great American Innovator or innovation from each state until every state and territory is accounted for, which is 14 years. Delaware, the first state, will be issued first and coins will follow in order of inclusion into the union, followed by territories and D.C. Likenesses will be chosen with input from state governors/territory executives, the Commission of Fine Arts and the Citizens Coinage Advisory Committee.
“Our country was built on innovation and entrepreneurship, and what better way to celebrate it than through a program that creates jobs and reduces the national debt. This bill supports local jobs at MBI Inc. in Norwalk, one of the top commemorative coin companies in the country. I’m proud to have worked with Congressman Himes to get this bipartisan bill to the president Trump’s desk,” said Murphy.
“Americans tinkering in the shed, programming in the garage, and growing big ideas from humble roots have always had great impact on our economy and future,” continued Himes. “We can honor them, inspire a new generation of entrepreneurs and scientists, and help the economy with this coin series.”