After the Senate passed their version of the Emergency Economic Stabilization Act (H.R. 1424, commonly known as the “Wall Street Bailout Bill”), the upper house went into “clean up” mode. Clean up mode is when congress pushes lesser, non-controversial bills through the body. As part of that clean up, the Senate passed S. 2579, United States Army Commemorative Coin Act of 2008.
The bill calls $5 gold coins with a limit of 100,000 minted, 500,000 $1 silver coins, and 750,000 clad half-dollars commemoratives in 2011 to recognize the founding of the United States Army in 1775. “The design of the coins minted under this Act shall be emblematic of the traditions, history, and heritage of the United States Army, and its role in American society from the Colonial period to today.”
Coins will include a $35 surcharge on the gold coin, $10 for the silver dollar, and $5 for the clad half-dollar will be paid “ to the Foundation to help finance the National Museum of the United States Army.”
Before the can become law, it must pass in the House of Representatives and signed by the president. Even though it is the same bill as H.R. 5714 that has 348 cosponsors, there is no guarantee that the lame duck session that will meet after the election will take up this measure.