[Congressional Record Volume 164, Number 9 (Tuesday, January 16, 2018)]
[House]
[Pages H181-H183]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    AMERICAN INNOVATION $1 COIN ACT

  Mr. DUFFY. Mr. Speaker, I move to suspend the rules and pass the bill 
(H.R. 770) to require the Secretary of the Treasury to mint coins in 
recognition of American innovation and significant innovation and 
pioneering efforts of individuals or groups from each of the 50 States, 
the District of Columbia, and the United States territories, to promote 
the importance of innovation in the United States, the District of 
Columbia, and the United States territories, and for other purposes, as 
amended.
  The Clerk read the title of the bill.
  The text of the bill is as follows:

                                H.R. 770

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``American Innovation $1 Coin 
     Act''.

     SEC. 2. AMERICAN INNOVATION $1 COIN PROGRAM.

       Section 5112 of title 31, United States Code, is amended by 
     inserting after subsection (v) the following new subsection:
       ``(w) Redesign and Issuance of $1 Coins Honoring Innovation 
     and Innovators From Each State, the District of Columbia, and 
     Each Territory.--
       ``(1) Redesign beginning in 2019.--
       ``(A) In general.--Notwithstanding subsection (d)(1) and 
     subsection (d)(2) and in accordance with the provisions of 
     this subsection, during the 14-year period beginning on 
     January 1, 2019 (or such later date as provided under 
     subparagraph (B)(ii)), the Secretary of the Treasury shall 
     mint and issue $1 coins to be known as `American Innovation 
     $1 coins', that--

[[Page H182]]

       ``(i) have designs on the obverse selected in accordance 
     with paragraph (2)(A); and
       ``(ii) have a design on the reverse selected in accordance 
     with paragraph (2)(B).
       ``(B) Continuity provisions.--
       ``(i) In general.--Notwithstanding subparagraph (A), the 
     Secretary shall continue to mint and issue $1 coins honoring 
     Native Americans and their contributions in accordance with 
     subsection (r).
       ``(ii) First coin.--Notwithstanding subparagraph (A), if 
     the Secretary finds that it is feasible and cost-effective, 
     the Secretary may mint and issue a $1 coin in 2018 to 
     introduce the series of coins described in this subsection, 
     that--

       ``(I) has the obverse described under paragraph (2)(A);
       ``(II) has a reverse that bears the inscription `United 
     States of America' and `American Innovators' and a 
     representation of the signature of President George 
     Washington on the first United States patent issued;
       ``(III) has the edge-incusing described under paragraph 
     (2)(C); and
       ``(IV) the design for which has reviewed by the Citizens 
     Coinage Advisory Committee

       ``(C) Definition of territory.--For purposes of this 
     subsection, the term `territory' means the Commonwealth of 
     Puerto Rico, Guam, American Samoa, the United States Virgin 
     Islands, and the Commonwealth of the Northern Mariana 
     Islands.
       ``(2) Design requirements.--Notwithstanding subsection 
     (d)(1) and subsection (d)(2), the $1 coins issued in 
     accordance with paragraph (1)(A) shall meet the following 
     design requirements:
       ``(A) Coin obverse.--The common design on the obverse of 
     each coin issued under this subsection shall contain--
       ``(i) a likeness of the Statue of Liberty extending to the 
     rim of the coin and large enough to provide a dramatic 
     representation of Liberty;
       ``(ii) the inscription `$1'; and
       ``(iii) the inscription `In God We Trust'.
       ``(B) Coin reverse.--The design on the reverse of each coin 
     issued under this subsection shall bear the following:
       ``(i) An image or images emblematic of one of the following 
     from one of the 50 States, the District of Columbia, or the 
     territories of the United States:

       ``(I) A significant innovation.
       ``(II) An innovator.
       ``(III) A group of innovators.

       ``(ii) The name of the State, the District of Columbia, or 
     territory, as applicable.
       ``(iii) The inscription `United States of America'.
       ``(C) Edge-incused inscriptions.--
       ``(i) In general.--The inscription of the year of minting 
     or issuance of the coin, the mint mark, and the inscription 
     `E Pluribus Unum' shall be edge-incused into the coin.
       ``(ii) Preservation of distinctive edge.--The edge-incusing 
     of the inscriptions under clause (i) on coins issued under 
     this subsection shall be done in a manner that preserves the 
     distinctive edge of the coin so that the denomination of the 
     coin is readily discernible, including by individuals who are 
     blind or visually impaired.
       ``(3) Issuance of coins commemorating innovation or 
     innovators.--
       ``(A) Order of issuance.--The coins issued under this 
     subsection commemorating either an innovation, an individual 
     innovator, or a group of innovators, from each State, the 
     District of Columbia, or a territory shall be issued in 
     alphabetic order of the State, the District, or territory 
     represented, starting with Alabama, and with the District of 
     Columbia following Delaware.
       ``(B) Issuance of coins commemorating four innovations or 
     innovators during each of 14 years.--
       ``(i) In general.--Four $1 coin designs as described in 
     this subsection shall be issued during each year of the 
     period referred to in paragraph (1) until one coin featuring 
     one innovation, an individual innovator, or a group of 
     innovators, from each of the States, the District of 
     Columbia, and territories has been issued.
       ``(ii) Number of coins of each design.--The Secretary shall 
     prescribe, on the basis of such factors as the Secretary 
     determines to be appropriate, the number of $1 coins that 
     shall be issued with each of the designs selected for each 
     year of the period referred to in paragraph (1).
       ``(iii) Application in event of the admission of additional 
     states or territories.--Notwithstanding clause (i), if any 
     additional State or territory is admitted into the Union 
     before the end of the 14-year period referred to in paragraph 
     (1), the Secretary of the Treasury may issue $1 coins with 
     respect to such additional State or territory, in accordance 
     with this subsection during any one year of such 14-year 
     period, in addition to the four $1 coins issued during such 
     year in accordance with clause (i).
       ``(iv) Application in the event of independence.--
     Notwithstanding paragraph (3)(B)(i), if any territory becomes 
     independent or otherwise ceases to be a territory of the 
     United States before $1 coins are minted pursuant to this 
     subsection, the subsection shall cease to apply with respect 
     to such territory.
       ``(4) Selection of concept and design.--
       ``(A) Concept.--With respect to each State, the District of 
     Columbia, and each territory to be honored with a coin under 
     this subsection, the selection of the significant innovation, 
     innovator, or group of innovators to be borne on the reverse 
     of such coin shall be made by the Secretary of the Treasury, 
     after consultation with the Governor or other chief executive 
     of the State, the District of Columbia, or territory with 
     respect to which a coin is to be issued under this 
     subsection.
       ``(B) Design.--Each of the designs required under this 
     subsection shall be selected by the Secretary after--
       ``(i) consultation with--

       ``(I) the Governor or other chief executive of the State, 
     the District of Columbia, or territory with respect to which 
     a coin is to be issued under this subsection; and
       ``(II) the Commission of Fine Arts; and

       ``(ii) review by the Citizens Coinage Advisory Committee.
       ``(C) Selection and approval process.--Proposals for 
     designs for $1 coins under this subsection may be submitted 
     in accordance with the design selection and approval process 
     developed by the Secretary in the sole discretion of the 
     Secretary.
       ``(D) Standards.--Because it is important that the Nation's 
     coinage and currency bear dignified designs of which the 
     citizens of the United States can be proud, the Secretary 
     shall not select any frivolous or inappropriate design for 
     any $1 coin minted under this subsection.
       ``(E) Prohibition on certain representations.--No head and 
     shoulders portrait or bust of any person and no portrait of a 
     living person may be included in the design of any coin 
     issued under this subsection.
       ``(5) Treatment as numismatic items.--For purposes of 
     sections 5134 and 5136, all $1 coins minted under this 
     subsection shall be considered to be numismatic items.
       ``(6) Issuance of numismatic coins.--The Secretary may mint 
     and issue such number of $1 coins of each design selected 
     under this subsection in uncirculated and proof qualities as 
     the Secretary determines to be appropriate.
       ``(7) Termination of program.--The issuance of coins under 
     this subsection shall terminate when one innovation, an 
     individual innovator, or a group of innovators, from each 
     State, the District of Columbia, and each territory has been 
     honored and may not be resumed except by an Act of 
     Congress.''.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Wisconsin (Mr. Duffy) and the gentleman from Connecticut (Mr. Himes) 
each will control 20 minutes.
  The Chair recognizes the gentleman from Wisconsin.


                             General Leave

  Mr. DUFFY. Mr. Speaker, I ask unanimous consent that all Members may 
have 5 legislative days within which to revise and extend their remarks 
and include extraneous material on this bill.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Wisconsin?
  There was no objection.
  Mr. DUFFY. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I rise today in support of H.R. 770, the American 
Innovation $1 Coin Act, introduced by my friend from Connecticut (Mr. 
Himes). The legislation seeks to honor that which is best about 
America: her innovative spirit.
  If enacted, the legislation would authorize a program under which the 
Treasury Department's United States Mint would produce a series of $1 
coins celebrating the innovative capacity of the United States. By the 
way, it is that innovative capacity that makes us so great and 
competitive and allows our salaries and incomes to rise.
  Under the program, the front of the coins would have the standardized 
image symbolic of liberty, and the design on the reverse would be an 
image or images emblematic of one of a significant innovation, an 
innovator or pioneer, or a group of innovators or pioneers.
  Four different reverse images would be issued annually, representing 
innovations or innovators from each State, territory, or the District 
of Columbia. The order of issue would be strictly alphabetical. That 
means the first issue would go to the great State of Alabama.
  The number of coins of each design would be determined by the 
Treasury Secretary. While the coins technically would be circulating 
coins and usable in ordinary commerce, there is no real demand for 
circulating $1 coins at present. So the demand would strictly be 
determined by collector interest.
  The program would be produced at no cost to the taxpayer. I think 
that is important. Mr. Himes made sure of that. Depending on the 
collector demand, it actually might produce a surplus that would then 
be returned to the Treasury's General Fund.
  The legislation explicitly states that minting of the innovation 
coins would in no way interfere with the minting and issuing of the $1 
coins honoring Native Americans. Those coins similarly have a 
standardized front design

[[Page H183]]

and a reverse design that changes regularly, honoring the great 
contributions that have been made to this country by Native Americans.
  So, Mr. Speaker, the Presidential dollar, when produced for 
collectors, had a demand of a little more than 5 million coins per 
design. That seems to indicate enough interest that would and should 
approve this program, as it can proceed at no cost to the taxpayer, 
while allowing the Mint to fully use its facilities. The language we 
are considering contains some minor technical amendments that will 
allow the coin production to begin more swiftly, which I think makes 
sense.
  I think this is a good bill, and Mr. Himes has kind of thought 
through any red flags that could be risen by any Member on the floor. 
He has addressed those.
  Mr. Speaker, I support this bill and encourage my colleagues to do 
the same, and I reserve the balance of my time.
  Mr. HIMES. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I thank my friend from Wisconsin for his support of this 
bill and the kind things he said about it.
  Mr. Speaker, the American Innovation $1 Coin Act addresses the 
decreasing numismatic coin sales resulting from the discontinuation of 
the Presidential $1 coin series.
  When enacted, this bill will first commission the U.S. Mint to create 
a year-long introductory coin series bearing the semblance of George 
Washington's signature on the first patent.
  The bill will then direct the Mint to release four $1 coins each 
year, as my friend from Wisconsin said, featuring a great American 
innovation from each State over the next 14 years. Coins will be issued 
in alphabetical order, starting with Alabama. State innovations will be 
chosen with input from State Governors, territory executives, the 
Commission of Fine Arts, and the Citizens Coinage Advisory Committee.
  Mr. Speaker, I am particularly excited about the concept of 
commemorating and honoring innovation. As Mr. Duffy has said, this is 
one of the core strengths of our country. We have fights across the 
aisle, as we should, over our economy and where this government 
intervenes. I think we agree that one of the key strengths of the 
United States is our entrepreneurial capacity and the remarkable 
innovations that come out of all 50 States and the territories of the 
United States.
  It is right that, in some small way, we honor those innovations and 
those innovators who help our economy grow, give us competitive 
advantage, and make us all proud to be part of the United States of 
America.
  Mr. Speaker, these coins will be sold as a product for collectors and 
minted to demand with oversight from the Treasury.
  Per U.S. Mint reports, to the point made by my friend from Wisconsin, 
the $1 coin costs less than 35 cents to make. As a product for 
collectors, the $1 coins sell for more than face value, up to $1.32 
each. That is nearly a $1 profit on every coin. Proceeds from this coin 
will return money to the Treasury. In addition, the infrastructure 
producing these coins is already in place.
  This program will sunset once all States and territories have been 
honored and cannot be resumed, except by an act of Congress.
  This legislation has the support of members of the coin industry and 
their local suppliers and service providers across the States, 
including a number of small businesses in my district. These businesses 
represent scores of small businesses and thousands of jobs around the 
country.

  I believe this bill will engage the public, fill the void of a 
terminated coin series, help increase the Mint's profitability, and 
create and sustain coin-related jobs in both public and private 
sectors, all while honoring and commemorating the remarkable innovative 
capacity of our country.
  I urge my colleagues to support H.R. 770, and I thank Chairman 
Hensarling, Ranking Member Waters, Chairman Barr, and Ranking Member 
Moore, as well as my friend from Wisconsin, for their support and 
determination to get this important bill scheduled and passed.
  Mr. Speaker, I reserve the balance of my time.
  Mr. DUFFY. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, again, I think it is important to note that we are using 
the capacity of the Mint, which costs no additional money. But as Mr. 
Himes pointed out, we are celebrating innovation. As a country, we 
continue to innovate and create in a way that no one else does in the 
world. It is that innovation and creation that creates more and better 
jobs for our society, our community, and our families. So I think it is 
a wonderful idea to celebrate that by way of a coin that costs the 
taxpayers no money but celebrates this great American trade.
  Mr. Speaker, I encourage all Members to support this bill, and I 
yield back the balance of my time.
  Mr. HIMES. Mr. Speaker, I have no further requests for time, and I 
yield back the balance of my time.
  The SPEAKER pro tempore. The question is on the motion offered by the 
gentleman from Wisconsin (Mr. Duffy) that the House suspend the rules 
and pass the bill, H.R. 770, as amended.
  The question was taken; and (two-thirds being in the affirmative) the 
rules were suspended and the bill, as amended, was passed.
  A motion to reconsider was laid on the table.

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