SB 2017-123: The Currency of Atlasia Act (Passed)

[The world will shine with light in our nightmare]

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Atlasian People's House of Representatives
Passed 6-0 in the Atlasian House Assembled,

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Sponsor: Henry Wallace

I hereby open the floor for debate.

[The world will shine with light in our nightmare]

I have a few questions about this bill.

1. What, exactly, are "denominations for inflation?"
2. How would this bill affect the current role of the Federal Reserve?
3. What happens to dollar bills that are made with paper?  If they are worth zero value after August 2019, are they meant to be individually exchanged to banks for polymer bills?

[The world will shine with light in our nightmare]

This needs a sponsor and someone who can answer those questions, please.

[The world will shine with light in our nightmare]

senate machine broke

[The world will shine with light in our nightmare]

I'd rather not just table something the House spent three pages debating, but we need something to happen here.  Sponsorship, arguments, answers to my questions...

[1978 New Wave skinny trousers]

I'll sponsor this and I'll attempt to answer the questions tomorrow.

[1978 New Wave skinny trousers]

I have a few questions about this bill.

1. What, exactly, are "denominations for inflation?"
2. How would this bill affect the current role of the Federal Reserve?
3. What happens to dollar bills that are made with paper?  If they are worth zero value after August 2019, are they meant to be individually exchanged to banks for polymer bills?

1. My guess is this means that the Bureau can take measures to impact the value of the currency, such as pursuing a strong dollar policy in order to combat inflation.
2. I doubt that this would affect the role of the Federal Reserve much. I don't see any reference to interest rate policy in the bill. It may, however, affect the role of the Treasury, as most currency value policy is dealt with by the Treasury.
3. I'm not sure what will happen to such dollars. I support an amendment to clarify an exchange system in which people will be able to exchange old money for new so that the old does not become completely worthless.

[Anna Komnene]

I have a few questions about this bill.

1. What, exactly, are "denominations for inflation?"
2. How would this bill affect the current role of the Federal Reserve?
3. What happens to dollar bills that are made with paper?  If they are worth zero value after August 2019, are they meant to be individually exchanged to banks for polymer bills?

1. My guess is this means that the Bureau can take measures to impact the value of the currency, such as pursuing a strong dollar policy in order to combat inflation.
2. I doubt that this would affect the role of the Federal Reserve much. I don't see any reference to interest rate policy in the bill. It may, however, affect the role of the Treasury, as most currency value policy is dealt with by the Treasury.
3. I'm not sure what will happen to such dollars. I support an amendment to clarify an exchange system in which people will be able to exchange old money for new so that the old does not become completely worthless.

That sounds like a good idea to me. I would support it.

After doing some research about polymer, it sounds like the longer life span and environmental benefits are good reasons to move to polymer. However, I was also led to believe that the creation of polymer bank notes can have expensive up front production costs... so I wonder if this bill should include a funding allocation to cover that?

This did give me an idea about something that's been talked about for a while bit never done. If we're going to be changing our dollars from paper to polymer, we might want to consider also abolishing the penny. Pennies are expensive to make and rarely used and they tend to have to be minted much more than other coins. It's worth considering I think.

[The world will shine with light in our nightmare]

Hearing no objection, Henry Wallace is now the sponsor.

Abolishing the penny was discussed in the House debate, but the idea was tossed.  I think NeverAgain's argument (RIP) for keeping it makes good economic sense.

[1978 New Wave skinny trousers]

I propose the following amendment:

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Atlasian People's House of Representatives
Passed 6-0 in the Atlasian House Assembled,

[/quote]

Note: The British term bureaux de change was used instead of the American term currency exchange because the latter has multiple meanings; instead of meaning a business where currency is exchanged, it can mean the act of exchanging currency itself.

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[/quote]
Sponsor Feedback: Origination
Status: Senators have 24 hours to object

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Hearing no objection, the amendment is adopted.

[1978 New Wave skinny trousers]

Seeing no further debate, I move for a final vote on this bill.

[The world will shine with light in our nightmare]

The question is now on the table.  Senators, please vote Aye, Nay, or Abstain.

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As amended by Senate

People's Regional Senate
Pending[/quote]

[ZuWo]

Aye

[PPT Spiral]

Aye

[Anna Komnene]

Aye

[1978 New Wave skinny trousers]

Aye

[Grumpier Than Thou]

Aye

[The world will shine with light in our nightmare]

Aye.

[The world will shine with light in our nightmare]

This has enough votes to pass.  Senators have 24 hours to change their vote.

[The world will shine with light in our nightmare]

With six votes in favor, this unanimously passes the Atlasian Senate.

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Atlasian People's House of Representatives
Passed 6-0 in the Atlasian House Assembled,


As amended by Senate

People's Regional Senate
Passed 6-0 in the Atlasian Senate assembled
Be it resolved, X President pro tempore[/quote]