Bessent readies Trump $250 bill as one big hurdle stands between Treasury and making it reality

The Treasury Department is preparing a $250 note bearing President Donald Trump’s portrait for the nation’s 250th anniversary, but the bill can only move forward only if Congress changes federal law barring living people from U.S. currency.

“It’s all up on Capitol Hill. At Treasury, we prepare things in advance. So we have prepared, in advance, that if the legislation is passed, but we will stick to the law,” explained Bessent.

Trump’s portrait would be placed on $250 paper currency for the first time if lawmakers succeed in changing a key federal law that bars living people from appearing on the currency. Democratic lawmakers and leaders, meanwhile, are decrying the proposal as they escalate their opposition to Trump and the GOP. 

“In response to active legislation sponsored by Representative Joe Wilson, the Bureau of Engraving and Printing (BEP) is conducting appropriate planning and due diligence. Should this legislative mandate be signed into law, the BEP is moving proactively to produce a $250 commemorative note which will appropriately recognize the 250th Anniversary of our great nation,” a Treasury spokesperson told Fox News Digital when asked about the bills. 

TREASURY TO PLACE TRUMP’S SIGNATURE ON PAPER CURRENCY TO MARK US 250TH ANNIVERSARY

Staunch Trump supporter, Republican South Carolina Rep. Joe Wilson, introduced the bill in February 2025.

Wilson introduced the bill not only to coincide with America’s birthday in July, but also as a rebuke of the Biden administration and its economic policies. The bill was referred to the House Financial Services Committee when it was introduced and has remained with the committee. 

The Federal Reserve currently issues only seven denominations: $1, $2, $5, $10, $20, $50 and $100. Kentucky Republican Rep. Andy Barr posted an image to X in January of the reported mock-up of the bill, which showed red, white and blue colors behind Trump’s image. 

“I have two mandates for U.S. currency at present. That no living person can be on U.S. currency. And the currency must say, ‘In God we trust,’” said Treasury Secretary Scott Bessent while hosting the White House press briefing Thursday.

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Democrats quickly took to social media to criticize the proposal, arguing it centered on Trump’s personal legacy rather than the nation’s 250th anniversary celebration.

“By the end of Trump’s term, it’ll be just enough to buy one gallon of gas and a carton of eggs,” said former Secretary of State Hillary Clinton in an X post.

“Hard No on a Trump $250 bill. Get over yourself. The upcoming July 4 anniversary is not about a wannabe King. It’s about celebrating the American journey,” wrote Democratic Minority Leader Hakeem Jeffries Minority Leader Hakeem Jeffries on X.

“While Americans are being crushed by rising prices, Trump is brainstorming new ways to stoke his ego. Maybe if he were more focused on lowering costs for working families, they wouldn’t need a new $250 bill to afford necessities,” said Democratic Virginia Sen. Mark Warner.

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“House Republicans’ priorities: ❌ End Trump’s war in Iran ✅ Create a ‘Trump Peace Prize’ ❌ Lower costs for families ✅ Make a new $250 bill with Trump’s face on it ❌ Reign in Trump’s masked ICE agents ✅ Carve Trump’s face on Mt. Rushmore,” wrote the Democratic National Committee on X.

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Treasury previously announced that Trump’s signature would appear on future U.S. paper currency alongside Treasury Secretary Scott Bessent’s signature in honor of the nation’s 250th anniversary.