Treasury Advances Draft Plan for $250 Bill Featuring Trump Portrait, Sources Say

Officials at the U.S. Treasury Department are moving forward with preliminary planning for a potential $250 commemorative bill featuring President Donald Trump’s portrait and signature, according to people familiar with internal discussions, as related legislation remains under consideration in Congress.

The proposed currency change would require congressional approval and a shift in long-standing federal rules that currently prohibit living individuals from appearing on U.S. paper money.

Proposal

The plan is tied to a Republican-backed bill introduced by Rep. Joe Wilson of South Carolina that would authorize the Bureau of Engraving and Printing to design a new $250 Federal Reserve note. The legislation includes Trump’s portrait as part of the proposed design.

The bill has 15 Republican co-sponsors but has not advanced beyond the House Financial Services Committee, where it has remained for more than a year.

If enacted, it would mark a major change in U.S. currency tradition, which has for more than a century limited portraits on money to deceased historical figures.

Legal Framework

Under current federal law, only deceased individuals may appear on U.S. currency. Any change to that rule would require approval from both chambers of Congress and the president’s signature, followed by implementation by the Treasury Department and Federal Reserve system.

Treasury officials have acknowledged they are preparing in advance in case the legislation becomes law, but emphasized that no final decision has been made.

Treasury Position

Treasury Secretary Scott Bessent confirmed during a White House briefing that the department is conducting preparatory work while the proposal remains under congressional review.

He said the department’s role is limited to ensuring readiness if the law changes, noting that existing statutes still prohibit living individuals from appearing on currency.

Bessent also said the department’s planning includes compliance with all current legal requirements, including the mandatory national motto printed on U.S. bills.

Signature Proposal

Separate from the portrait discussion, Treasury officials are also considering adding President Trump’s signature to U.S. currency design elements, according to people familiar with the matter. Officials said the move is part of broader planning for commemorative redesign scenarios linked to the proposed legislation.

A Treasury spokesperson said the Bureau of Engraving and Printing operates independently through revenue generated from currency production rather than taxpayer funding.

Congressional Status

The proposal faces an uncertain path in Congress. While it has support from a small group of Republican lawmakers, it has not gained traction with House leadership, and no formal endorsement has been issued by top party officials.

Even if it passes the House, the bill would still require 60 votes in the Senate, making bipartisan support necessary for approval.

If the legislation fails before the end of the current Congress, it would expire and need to be reintroduced in a future session.

Context

The proposal has sparked broader debate about precedent in U.S. currency design, particularly the tradition of featuring historical figures such as presidents and civil rights leaders posthumously.

Officials have not indicated when, or if, a final decision on design work would be made, and emphasized that no currency changes are currently scheduled.

Additional Developments

The Treasury Department said any work being done is strictly preparatory and contingent on legislative approval.

Separately, federal officials have also confirmed plans for special commemorative passports tied to upcoming national anniversary celebrations, which would include updated design elements.

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