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. 

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. 

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.

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.