CHICAGO — The National Automatic Merchandising Association (NAMA) is supporting H.R. 5512, the Coin Modernization and Taxpayer Savings Act of 2008. H.R. 5512 is important because in its current form it provides two key vending-related benefits: keeping costs down for those using vending machines and avoiding millions of dollars of additional expenses for the nation’s owner-operator-run vending industry by providing that future coins will work in existing coin-acceptance equipment without modification to the equipment.
Richard M. Geerdes NCE, president and chief executive officer of NAMA, recently appeared before the House Subcommittee on Domestic and Monetary Policy, Trade and Technology, and offered NAMA’s support of H.R. 5512, citing the two key benefits, and saying that in its current form, and after collaboration with the committee staff, that H.R. 5512 now provides that future coins, while reducing production costs for the taxpayer, must work in existing coin-acceptance equipment in our country’s vending machines and anywhere where coins are used without modification to the equipment.
“Today, it is even more apparent that every effort to assist small businesses to operate more productively and to invest more dollars to that end, and to help keep vending machine user costs down for American consumers and taxpayers, is vital for the U.S. economy’s health and growth,” he added.
NAMA is the national trade association of the food and refreshment vending, coffee service and foodservice management industries including on-site, commissary, catering and mobile.