Bill Overview
Title: LA28 Olympic and Paralympic Games Commemorative Coin Act
Description: This bill directs the Department of the Treasury to mint coins in commemoration of the 2028 Olympic and Paralympic Games in Los Angeles, California. All surcharges received by Treasury from the sale of the coins shall be promptly paid by Treasury to the United States Olympic and Paralympic Properties for the objects and purposes related to the hosting of the 2028 Olympic and Paralympic Games and to aid in the execution of its legacy programs, including the promotion of youth sports in the United States. Treasury is encouraged to develop and execute a marketing and educational program to promote and sell the coins.
Sponsors: Sen. Padilla, Alex [D-CA]
Target Audience
Population: People interested or indirectly involved in the LA28 Olympics and Paralympics
Estimated Size: 50000000
- The 2028 Olympic and Paralympic Games in Los Angeles are expected to be a major international event, affecting both the local population and a global audience.
- Minting commemorative coins typically has limited direct impact but supports funding for specific initiatives, in this case, Olympic and Paralympic programs.
- Coins themselves will likely be purchased by collectors, fans of the Olympics, and supporters of Paralympic sports.
- Proceeds from the coin sales will directly support the LA28 games and related programs, particularly youth sports in the U.S.
- Indirectly, promoting youth sports can have positive effects on broader populations, including athletes, youth, and communities engaged in sports.
- The global interest in the Olympic Games draws attention potentially affecting international population awareness and involvement.
Reasoning
- The LA28 Olympic and Paralympic Games Commemorative Coin Act provides additional funding through commemorative coin sales, primarily impacting communities interested in the Olympics, young athletes, and the collectible market.
- Most individuals will experience indirect effects through enhanced funding for the Olympic Games and youth sports programs, which may not significantly alter their wellbeing immediately but could yield positive longer-term community effects.
- People with direct involvement in the Olympics (e.g., local Los Angeles residents, youth sports groups) might feel a more immediate change due to increased resources, whereas nationwide impact might be subtle and gradually grow over time.
Simulated Interviews
High school teacher and youth sports coach (Los Angeles, California)
Age: 35 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- I'm excited about the LA28 Olympics. It's great that the coins will support youth sports, which is my passion as a coach.
- I think this initiative could enhance our local sports programs significantly with new equipment and facilities.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 8 |
| Year 20 | 8 | 8 |
Coin collector and trader (New York, New York)
Age: 43 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 5/20
Statement of Opinion:
- I look forward to adding these coins to my collection. It's a unique way to be part of the Olympic legacy.
- It will likely boost interest in Olympic collectibles and might increase my sales.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
University student and athlete (Austin, Texas)
Age: 21 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- It's fantastic that proceeds will help enhance youth sports in the U.S. This could create more opportunities for young athletes like me.
- I hope the funds reach college-level sports too.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Marketing professional (Omaha, Nebraska)
Age: 29 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- As a fan, I'm thrilled for the Olympics, and seeing my city potentially involved in marketing efforts is exciting.
- I hope it brings more national attention to sports and marketing innovation.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 8 | 8 |
Sports journalist (Dallas, Texas)
Age: 50 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 12/20
Statement of Opinion:
- Any initiative that promotes and funds the Olympics is beneficial. It helps keep the spirit alive and encourages engagement and participation.
- Covering these developments adds depth to my journalism work.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 6 |
Retired engineer (Seattle, Washington)
Age: 62 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 6/20
Statement of Opinion:
- Collecting the Olympic coins is a delightful prospect. It's not just an investment but also a connection to global sporting culture.
- I hope the funds reach more local sports programs.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
High school student and athlete (Phoenix, Arizona)
Age: 17 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- The proceeds from coins assisting youth sports is promising. It could provide better facilities and equipment for us.
- I hope it inspires future Olympians from local communities.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 9 | 6 |
| Year 20 | 8 | 6 |
Fitness company executive (Chicago, Illinois)
Age: 40 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- Supporting the Olympics this way is an indirect investment in community health. It might align with our wellness initiatives.
- Coins are a creative means to market sporting and fitness culture.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 7 |
Mother and community volunteer (Salt Lake City, Utah)
Age: 33 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 8.0 years
Commonness: 9/20
Statement of Opinion:
- This initiative can make sports more available to kids which is fantastic for their growth and development.
- I hope the proceeds are used efficiently and fairly across all communities.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
City council member (Los Angeles, California)
Age: 55 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 6/20
Statement of Opinion:
- The success of LA28 is crucial for our city. Any additional funding avenues like this are vital.
- Promoting youth sports aligns with our community values and enhances local engagement.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 10 | 9 |
| Year 20 | 9 | 9 |
Cost Estimates
Year 1: $25000000 (Low: $20000000, High: $30000000)
Year 2: $15000000 (Low: $12000000, High: $18000000)
Year 3: $10000000 (Low: $8000000, High: $12000000)
Year 5: $5000000 (Low: $4000000, High: $6000000)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The success of the policy heavily depends on the demand for the commemorative coins, as this will affect surcharge collections.
- Treasury's ability to efficiently manage and promote the coin program is crucial for maximizing both sales and associated benefits to the Olympic and Paralympic programs.
- Economic conditions at the time of the coin release could significantly impact collector interest and surplus funding potential.