Alex Padilla: “I rise to reintroduce the LA28 Olympic and Paralympic Games Commemorative Coin Act. The LA28 Olympic and Paralympic…”

“I rise to reintroduce the LA28 Olympic and Paralympic Games Commemorative Coin Act. The LA28 Olympic and Paralympic Games Commemorative Coin would direct the Treasury Department to mint and issue coins in commemoration of the ninth time that the United States will host the modern Olympics and the third time that our Nation will host the Paralympics. The proceeds from the sale of these coins will support the hosting of the 2028 Games and aid in the execution of its legacy programs, including the promotion of youth sports in the United States. It is also worth noting that this bill would come at no cost to the Federal Government. As you may know, the United States is one of the only countries with an Olympic Committee that does not receive funding from the Federal Government. All U.S.-hosted Olympic Games must instead rely on corporate partnerships, proceeds from broadcast agreements and ticket sales, and philanthropic contributions. Historically, Congress has authorized commemorative coins to honor the Olympic Games and Olympic athletes, including for the 1984, 1996, and 2002 Olympic Games in the United States. The 2028 games are 5 years from today, and preparations for this grand event are already underway in the region. This legislation can help ensure the 2028 games has the resources necessary to be a world-class event.…”