The bill titled "FIFA World Cup 2026 Commemorative Coin Act" authorizes the Secretary of the Treasury to produce commemorative coins in celebration of the FIFA World Cup 2026, which is to be hosted by the United States, Mexico, and Canada. It sets out detailed specifications for minting gold, silver, and half-dollar coins, designates these coins as legal tender, and outlines their distribution and sales strategy, including added surcharges to fund soccer-related programs in the United States.

General Summary of the Bill

The bill proposes the creation of commemorative coins to mark the FIFA World Cup 2026. These coins will not only serve as collectibles but also as legal tender in the U.S. The Secretary of the Treasury is given the authority to dictate the coin designs, in consultation with various stakeholders, and to oversee their minting and sale. The sale of these coins will include surcharges intended to support soccer programs in the United States, with a focus on promoting the sport among youth and in underserved communities. Importantly, the bill mandates financial guards to ensure no net cost to the U.S. government and that revenue exceeds production and distribution costs.

Summary of Significant Issues

A number of concerns emerge from the provisions of the bill:

1. Transparency and Oversight: The bill lacks detailed guidance on the management and allocation of funds raised through surcharges, as well as oversight of FWC2026 US, Inc. This organization is tasked with implementing the World Cup programs but is also a major beneficiary of the surcharge funds.

2. Potential Conflicts of Interest: FWC2026 US, Inc. has significant influence, from design decisions to research affecting coin production levels, raising potential conflicts of interest.

3. Financial Assurance and Accountability: The bill requires that the coin program results in no net cost to the government, but it lacks explicit mechanisms to ensure this. Moreover, the audit measures for FWC2026 US, Inc. are not clearly defined, posing a risk of inadequate financial oversight.

4. Design and Issuance Criteria: The criteria for the design and issuance of coins, along with their mintage limits, appear insufficiently justified or explained, potentially leading to inefficiencies or waste.

Impact on the Public Broadly

For the general public, the bill presents an opportunity to engage with the World Cup through collectible coins that are both keepsakes and legal tender. This initiative could foster greater enthusiasm and involvement in soccer, particularly among young people and in diverse communities. However, without clear mechanisms to ensure financial accountability, there is a potential risk that these objectives might not be fully realized or equitably distributed.

Impact on Specific Stakeholders

• Soccer Communities: The funds from the surcharges are earmarked to support the growth of soccer, which could significantly benefit community programs, youth development, and enhance the sport's infrastructure, particularly in underserved areas.

• FWC2026 US, Inc.: As the primary entity responsible for implementing the World Cup programs, this organization stands to gain substantially from surcharge funds. However, the lack of financial oversight is a concern, as improper management could lead to negative outcomes, potentially undermining the program’s goals.

• U.S. Treasury: While the bill lays out precautions to prevent additional government costs, insufficient clarity on financial recovery mechanisms might place unexpected strains on government resources if the coin sales fall short of projections.

Overall, while the bill holds promise for promoting soccer and capitalizing on the World Cup’s excitement, the absence of robust oversight and clear criteria for certain provisions could pose risks to its success and integrity.

The "FIFA World Cup 2026 Commemorative Coin Act" involves several financial aspects that revolve around the minting and sale of commemorative coins to celebrate the FIFA World Cup 2026. Here's an examination of how money is being utilized and referenced in the legislation:

Coin Specifications and Mintage Levels

The Act mandates the Treasury to produce specific commemorative coins: - $5 gold coins: Up to 100,000 coins. - $1 silver coins: Up to 500,000 coins. - Half-dollar clad coins: Up to 750,000 coins.

The Act allows these production limits to be adjusted if deemed necessary by the Secretary, based on market research by FWC2026 US, Inc. This raises concerns about potential conflicts of interest (as highlighted in the issues section), since the organization conducting this research might have a vested interest in the outcomes of such decisions.

Surcharges and Financial Allocation

For each coin sold, there is an additional surcharge: - $35 per $5 gold coin. - $10 per $1 silver coin. - $5 per half-dollar coin.

These surcharges are intended to be directed exclusively to FWC2026 US, Inc., supporting U.S.-based soccer programs. However, this exclusive allocation, without competitive measures or detailed transparency requirements, could imply preferential treatment or lackluster accountability, as noted in the issues.

Financial Accountability and Oversight

Though the Act aims to prevent any net cost to the U.S. government from the coin edition, the absence of detailed mechanisms in the Act to ensure financial oversight is a notable concern. Section 8 mentions that the total costs should not burden the U.S. Treasury, yet it lacks specifics on enforcement or accountability measures.

Additionally, while FWC2026 US, Inc., must be audited regarding the surcharge funds received, the bill does not provide detailed auditing guidelines, exacerbating concerns about financial accountability and potential misuse of funds.

Sales and Financial Safeguards

Coins will be sold at a price covering face value, surcharges, and production costs. This includes labor, materials, and shipping. However, the Act doesn't clearly define procedures for "bulk sales" and "prepaid orders," which could lead to inconsistencies or inefficient practices.

Overall, while the Act’s financial intentions seem clear—commemorating the FIFA World Cup and supporting soccer programs—the execution and oversight mechanisms proposed may not fully ensure accountability and transparency in managing the finances, particularly with the involvement of FWC2026 US, Inc.