Bill will celebrate U.S. history of innovation & help reduce the national debt

WASHINGTON — U.S. Senator Chris Murphy (D-Conn.) released a statement on Wednesday after the U.S. House of Representatives passed his bipartisan American Innovation $1 Coin Act. The bill – which was introduced in the House by U.S. Representative Jim Himes (CT-4) – would celebrate the United States’ long and diverse history of innovation by requiring the Secretary of the Treasury to mint coins that bear an image emblematic of a significant innovation, innovator, or group of innovators from each of the 50 U.S. states, the District of Columbia, and U.S. territories. Similar to the 50 State Quarters Program, the American Innovation $1 Coin Act would generate revenue for the U.S. Treasury and help finance the national debt. The bill now awaits a vote in the U.S. Senate. 

“This bill is a win-win. It will celebrate the brilliant, innovative minds and ideas that have made our country so great, and simultaneously help reduce our national debt,” said Murphy. “I’m proud the House passed our bill with such strong bipartisan support. I’m going to push for a vote on the Senate floor as quickly as possible.” 

The full text of Murphy’s bill is here

Murphy believes entrepreneurship and innovation are building blocks for a strong economy. In the U.S. Senate, he has introduced two bipartisan pieces of legislation to incentivize innovation – the Angel Tax Credit Act and the Helping Angels Lead Our Startups (HALOS) Act