Scott Bessent Says $250 Note With Trump Portrait Is Ready, Awaits Congress Nod
US Treasury Secretary Scott Bessent has said that the department has been working on a mock-up design of a proposed $250 note that would feature President Donald Trump's portrait.
Speaking at the White House briefing, Bessent noted that any such change would require approval from Congress, as current law does not permit living individuals to be featured on US currency.
Bessent added that there is proposed legislation in front of the House and Senate to make the necessary amendment.
He further stated that officials within the Treasury Department had requested the Bureau of Engraving and Printing to prepare preliminary mock-ups of the new currency design.
"At the Treasury, we prepared things in advance. So we have prepared in advance that if the legislation is passed, but we will stick to the law, he added.
Why Has the $250 Trump Note Proposal Sparked Controversy Within the US Treasury?
The push to introduce a new $250 note featuring US President Donald Trump has triggered internal controversy within the US Treasury Department's Bureau of Engraving and Printing, coinciding with the abrupt reassignment of its former director Patricia Solimene, the New York Times reported.
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In a note to staff, Solimene said her move to another part of the Treasury was not her choice. "I have never sacrificed the values or character of myself or the organisation and always prioritised the U.S. Currency Program and the value each employee brings to the mission," she wrote, adding, "The buck stopped here," before stepping down from her role.
The developments come amid reported plans to prepare a new currency design featuring Trump's portrait, a move that has already drawn scrutiny. The Washington Post had earlier reported both the proposed $250 note and Solimene's reassignment.
Trump has previously signalled interest in leaving a stronger imprint on US currency and the broader economy.
Last year, designs were released for a commemorative coin bearing his image, a move that sparked criticism over potential legal concerns and traditions under a long-standing 1866 law that discourages depictions of living individuals on currency, the New York Times reported.
In March, Trump's handpicked arts commission approved a 24-karat gold commemorative coin featuring his likeness, depicting him with a stern expression and clenched fists, with an eagle on the reverse.
Separately, the Treasury Department had also announced that Trump would become the first sitting US president to have his signature appear on the US dollar alongside Treasury Secretary Scott Bessent, replacing the traditional signature of the US treasurer, the New York Times reported.
The proposals have reignited debate over currency design traditions, which typically take years to implement due to security and institutional considerations. A previous plan during Trump's first term to replace Andrew Jackson on the $20 bill with Harriet Tubman was also delayed.
(With inputs from ANI)