On Monday, President Joe Biden signed a bill into law that authorizes the construction of a monument in Washington D.C. to commemorate the Medal of Honor and its recipients.

Representative Marc Veasey (D-Texas) and Senator John Cornyn (R-Texas), along with Representative Blake Moore (R-Utah) and Senator Tim Kaine (D-Virginia), introduced HR 1664, and the bill passed through Congress with bipartisan support.

“Thank you, @POTUS for signing my bill, the National Medal of Honor Monument Act, into law which will create a monument in DC honoring some of our nation’s most distinguished veterans and service members!” Representative Veasey tweeted Monday.

Federal funds will not be used to build the monument. Instead, the bill authorizes the National Medal of Honor Museum Foundation, based in Arlington, Texas, to raise funds necessary to construct the memorial.

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According to the foundation, the monument will complement the future National Medal of Honor Museum scheduled to open in 2024 in Representative Veasey’s district in Arlington, Texas.

“Recognition in our nation’s capital for those who received our country’s highest award for valor in combat is long overdue,” said Chris Cassidy, the president and CEO of the foundation. “We are ready to recognize the valor of these great heroes and all those they served alongside with a place of inspiration on the National Mall in Washington, D.C.”

The Medal of Honor is the highest decoration a US military service member can receive. It is reserved for service members who distinguish themselves with extraordinary acts of valor that go above and beyond the call of duty. It is often awarded posthumously to service members who have fallen in combat.

“This monument will be a beacon for the enduring values the Medal of Honor represents: courage and sacrifice, commitment and integrity, citizenship and patriotism,” Cassidy said.

Nearly 4,000 Americans have received the Medal of Honor since its creation in 1851. There are currently 66 living recipients of the medal.

“An homage to America’s Medal of Honor recipients in our nation’s capital will remind visitors and residents alike of what it means to put your country first,” said Senator Cornyn in a statement released by his office. “The selfless service members who have earned the Medal of Honor – like the fabled Patrick Brady and Audie Murphy, to name a few – deserve our utmost respect and recognition.”