Treasury Secretary Scott Bessent said the department is preparing for a possible $250 bill featuring President Donald Trump, while emphasizing that Congress must first change federal currency rules.
By yourNEWS Media Newsroom
Treasury Secretary Scott Bessent said Thursday that the Treasury Department is preparing for the possibility of a $250 bill featuring President Donald Trump, but stressed that any such currency would require congressional approval before it could be issued.
Bessent addressed the matter during a White House press briefing, where he was filling in for White House Press Secretary Karoline Leavitt while she is on maternity leave. The briefing came as the Trump administration continues highlighting federal benefits fraud investigations and other Treasury-related enforcement efforts.
WATCH:
The discussion over a potential Trump $250 bill followed a Washington Post report that said Trump administration officials were pushing the Bureau of Engraving and Printing to prepare a design featuring Trump’s portrait. The report said legislation allowing Trump to appear on a $250 bill had been introduced in Congress last year to mark the nation’s 250th anniversary but had not advanced.
The report also said U.S. Treasurer Brandon Beach and adviser Mike Brown were involved in the effort. British painter Iain Alexander reportedly created a mockup draft of the proposed T Note for Bureau of Engraving and Printing staff.
During the briefing, Fox News reporter Peter Doocy asked Bessent how soon his signature might appear next to Trump’s face on a $250 bill.
“Well, again, as Treasury Secretary, I have two mandates for US currency. At present, no living person can be on US currency, and the currency must say ‘In God We Trust.’ So, right now, there is proposed legislation in front of the House and in front of the Senate to change the first requirement so that a living person, Donald J. Trump, could be on the $250 bill. So, it’s all in the hands of the uh, 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,” Bessent said.
When another reporter asked whether Bessent thought it was appropriate for Trump “to put his face on American currency,” the Treasury secretary rejected the framing.
“Again, the President doesn’t do it. The House and the Senate have to do it,” Bessent said.
The briefing was scheduled for 2 p.m. ET and was streamed in a live replay.
Bessent’s appearance also came as the administration promotes its work through the White House Task Force to Eliminate Fraud. Vice President JD Vance, who chairs the task force, and Federal Trade Commission Chairman Andrew Ferguson, the vice chair, held a roundtable Tuesday with more than a dozen state attorneys general to discuss a nationwide crackdown on federal benefits fraud.
Vance told reporters that the task force has already identified tens of billions of dollars in fraudulent loans, reimbursement claims and payments tied to federal benefits programs.
“We referred over $22 billion in fraudulent small business loans back to the Treasury for collection,” Vance said.
The Treasury Department is also involved in an investigation into Code Pink’s alleged ties to Communist Cuba. The department’s Office of Foreign Assets Control has issued subpoenas to Code Pink cofounder Medea Benjamin and streamer Hasan Piker over their participation in the “Nuestra América Convoy” to Cuba, according to the submitted material.
Bessent’s comments on the possible $250 bill made clear that Treasury is preparing for a potential change in law while maintaining that current legal requirements remain in effect. Under those rules, living individuals cannot appear on U.S. currency, and all currency must include the phrase “In God We Trust.”
The proposed bill remains dependent on action by Congress. Bessent said Treasury would follow the law if lawmakers approve the change, but he placed responsibility for the decision with the House and Senate rather than the president.
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