Cancel the Coin Act

12/15/2023, 3:53 PM

Summary of Bill HR 440

Bill 118 hr 440, also known as the Cancel the Coin Act, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to halt the production and distribution of a specific commemorative coin that was previously authorized by Congress.

The Cancel the Coin Act argues that the commemorative coin in question is unnecessary and a waste of taxpayer money. The bill states that the production and distribution of this coin would cost the government millions of dollars, which could be better spent on more pressing issues.

Supporters of the Cancel the Coin Act believe that the commemorative coin does not serve a significant purpose and is simply a way for certain interest groups to profit off of collectors. They argue that the government should not be in the business of producing coins that have little to no practical value. Opponents of the bill argue that the commemorative coin is a way to honor a specific event or individual and serves as a way to raise awareness and funds for important causes. They believe that canceling the production of the coin would be a disservice to those who were meant to be honored by it. Overall, the Cancel the Coin Act is a controversial piece of legislation that raises questions about the government's role in producing commemorative coins and the allocation of taxpayer funds. It will be interesting to see how Congress ultimately decides on this issue.

Congressional Summary of HR 440

Cancel the Coin Act

This bill prohibits the Department of the Treasury from minting or issuing any coin, including platinum bullion coins and proof platinum coins, having a nominal or face value exceeding $200.

Read the Full Bill

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Current Status of Bill HR 440

Bill HR 440 is currently in the status of Bill Introduced since January 20, 2023. Bill HR 440 was introduced during Congress 118 and was introduced to the House on January 20, 2023.  Bill HR 440's most recent activity was Referred to the House Committee on Financial Services. as of January 20, 2023

Bipartisan Support of Bill HR 440

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 440

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 440

Cancel the Coin ActCancel the Coin ActTo amend title 31, United States Code, to limit the face value of coins.
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Comments

Sponsors and Cosponsors of HR 440

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