With all of the tough issues that could be attracting Congress’ attention these days, it’s good to know that they have prioritized the truly important issues — issues such as commemorative coin bills.
Ashe Schow of Heritage Action details the story:
Earmarks may be banned, but there are still ways lawmakers can secure funds for pet projects back home they can tout as a legislative accomplishments and reason for reelection. As we have seen, simply reinstating earmarks is out of the question because the practice has become toxic – especially in an election year. But for a handful of lawmakers, there is a creative workaround that allows funds to flow to those prized pet projects: a commemorative coin bill.
Every few weeks in the 112th Congress, lawmakers have introduced a new commemorative coin bill representing a national icon usually relevant to their district. It works like this: once approved by Congress and signed into law, the commemorative coins are minted by the Treasury, which is refunded the cost of the coins as they are bought by collectors. Here is the catch: on top of what the coin is worth (50 cents, $1, or $5) there is a surcharge, and all proceeds from the surcharge goes toward the icon featured on the coin. …
… To be clear, none of this runs afoul of House or Senate earmark rules, and it’s all perfectly legal, but it is nonetheless a revealing look at the many levers of power in Washington. Since the Treasury is reimbursed for its cost there is no cost to taxpayers – except for the coin collectors who are voluntarily paying as much as $35 more than the cost of the coin – and lawmakers can secure a potentially valuable source of funding for a landmark in their districts.
