What happened
Treasury Secretary Scott Bessent said Thursday his department has been working to create a $250 bill bearing President Donald Trump’s portrait, and he showed off a mockup ordered by U.S. Treasurer Brandon Beach. “At present, no living person can be on U.S. currency,” under a 1866 law, Bessent said during a press conference. “We will stick to the law” but “have prepared in advance” in case Congress passes “proposed legislation” authorizing the Trump banknote.
Who said what
The Treasury Department is “moving proactively” and doing “due diligence” in response to legislation introduced by Rep. Joe Wilson (R-S.C.), a spokesperson said. That “Donald J. Trump $250 Bill Act” has “since stalled out, with no actions” since February 2025, CBS News said. Trump has “also pushed for the creation of a $1 coin bearing his image,” The New York Times said, and is “having his signature added to U.S. currency this year,” as he endeavors to “honor himself while commemorating the nation’s 250th birthday.”
What next?
New banknotes can take “more than a decade to design and produce,” The Washington Post said, and typically require “extensive coordination” with the Federal Reserve and Secret Service to add “dozens of embedded security features” to prevent counterfeiting.