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August 17, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Murphy and Himes achieve passage of bill creating $1 coins honoring innovation

U.S. Sen. Chris Murphy and Rep. Jim Himes have successfully shepherded their American Innovation $1 Coin Act through Congress, and the bill will now go to President Donald Trump for his signature before becoming law.

The legislation will require the U.S. Department of the Treasury to mint $1 coins honoring either American innovators or significant innovations from all 50 states, the District of Columbia and the U.S. Territories. Four coins will be released per year, and the program will run for 14 years. The subjects to be chosen will be culled from input by state governors and territory executives, the Commission of Fine Arts and the Citizens Coinage Advisory Committee. This will be the second series of commemorative dollar coins issued by the Treasury, following the 2007-2016 issuance of coins honoring former presidents and first ladies.

“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?” said Murphy. “This bill supports local jobs at MBI Inc. in Norwalk, one of the top commemorative coin companies in the country.”

“Americans tinkering in the shed, programing in the garage and growing big ideas from humble roots have always had great impact on our economy and future,” added Himes. “We can honor them, inspire a new generation of entrepreneurs and scientists, and help the economy with this coin series.”