Rep. Maloney, Survivors and BCRF Celebrate President Signing Breast Cancer Awareness Commemorative Coin Act into Law

May 9, 2016
Press Release
1 in 8 women will develop breast cancer in her lifetime. New commemorative coin will help raise private funds for breast cancer research

NEW YORK  –  Today, Congresswoman Carolyn B. Maloney celebrated the signing of the Breast Cancer Awareness Commemorative Coin Act into law at the offices of the Breast Cancer Research Foundation (BCRF), located in her district. Rep. Maloney was joined by the President and CEO of BCRF Myra Biblowit, BCRF Honorary Chair Leonard Lauder, BCRF Scientific Director Dr. Larry Norton, BCRF Chief Mission Officer Dr. Marc Hurlbert and breast cancer survivors to commemorate the signing. President Obama signed into law the bipartisan Breast Cancer Awareness Commemorative Coin Act (H.R. 2722) on the evening of Friday, April 29, making official a new fundraising effort for breast cancer medical research.

The bill, introduced by Congresswoman Carolyn B. Maloney (NY-12) and Congressman Pete Sessions (TX-32) in the House and Senator Heidi Heitkamp (D-ND) and Senator Kelly Ayotte (R-NH) in the Senate, creates a commemorative coin program at the U.S. Mint that has the potential to raise an estimated $8.5 million in private funds for the Breast Cancer Research Foundation. Coins will be available for purchase in 2018.

“I’m thrilled that the Breast Cancer Awareness Commemorative Coin Act has been signed by President Obama and that we can now begin the next steps for this new avenue of raising funds for breast cancer research,” said Rep. Maloney. “New commemorative coins will be designed, minted and sold, at no cost to the American taxpayer, to raise millions of dollars for the Breast Cancer Research Foundation’s critical research efforts. About one in eight women will develop breast cancer in her lifetime. Thanks to investment in research on detection methods and treatment, survivorship has increased. The only obstacle standing between us and a cure is further research, and that research needs funding. I’m so pleased to have worked with Rep. Pete Sessions (R-TX), Sen. Heidi Heitkamp (D-ND) and Sen. Kelly Ayotte (R-NH) on this lifesaving bill.” 

“We are so honored to be named the recipient of the Breast Cancer Commemorative Coin,” said Myra Biblowit, President and CEO of BCRF. “Since BCRF was founded by Evelyn Lauder in 1993, our investigators have been deeply involved in every major breakthrough in breast cancer research. Investing in BCRF is an investment in a future without breast cancer. We are on a path to ending the devastating disease and with the funding from this coin we will propel research forward, faster.”

Next Steps:

  • Per the bill’s language, there will be a national design competition open to the public to create the artwork for this new commemorative coin
  • The Breast Cancer Awareness Commemorative Coin will be issued in 2018

Background:

  • The Breast Cancer Awareness Commemorative Coin Act (H.R. 2722) would direct the U.S. Treasury to issue up to 50,000 $5 “pink gold” coins, up to 400,000 $1 silver coins and 750,000 half-dollar clad coins with a design to symbolize the fight against breast cancer in 2018.
  • The production cost of these coins will be fully covered in the sales price, and the proceeds will benefit the Breast Cancer Research Foundation, headquartered in New York. No taxpayer money will be used in the production or sale of the coin.
  • The Breast Cancer Research Foundation (BCRF) has raised more than $625 million for research to date. This year BCRF is funding $54 million in grants to over 240 researchers across 24 states and the District of Columbia and 13 countries, making it the largest private funder of breast cancer research in the world. BCRF is dedicated to keeping administrative costs low. Of every dollar donated to BCRF, $0.91 goes to research and awareness programs—$0.88 towards research and $0.03 towards awareness. BCRF is the highest rated breast cancer organization in the U.S. with an A+ rating from Charity Watch and 4 out of 4 stars from Charity Navigator.
  • Clinical advances resulting from research have led to increased survival rates among breast cancer patients, and death rates have dropped over 34 percent since 1990.
  • The House of Representatives approved the bill introduced by Reps. Carolyn B. Maloney (NY-12) and Pete Sessions (TX-32) on July 15, 2015. The companion bill  passed in the Senate by Unanimous Consent on April 19, 2016.
  • The President signed Rep. Maloney’s bill on April 29, 2016.

 

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