A controversial plan to introduce a new $250 U.S. commemorative banknote, potentially bearing a portrait of sitting President Donald Trump, is moving forward with preliminary preparations amid fierce political debate, tied to the nation’s 250th founding anniversary this year. Federal law currently prohibits placing the image of a living person on U.S. currency, but Republican allies of the president in Congress have tabled legislation that would carve out a one-time exception for this initiative. Proponents frame the new denomination as a symbolic tribute to the 2026 U.S. semiquincentennial, but critics argue it is the latest in a series of self-aggrandizing moves by Trump and his allies to embed the president’s likeness into core national symbols and institutions.
A spokesperson for the U.S. Treasury Department confirmed to the BBC that the agency has already begun appropriate pre-legislation planning and due diligence in response to the proposed bill. The Washington Post was the first outlet to break news of the Treasury’s advance preparations. The Bureau of Engraving and Printing (BEP), the Treasury sub-agency tasked with designing and producing all U.S. paper currency, has already requested draft designs for the new note, even though no artistic concepts have been released to the public. “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,” the Treasury spokesperson said in an official statement.
This is not the first time Trump’s mark will appear on U.S. currency: the president’s signature is already scheduled to be added to existing U.S. paper notes as part of official semiquincentennial celebration programming. The legislation behind the $250 note was first introduced last year by Republican House Representative Joe Wilson of South Carolina, and it still requires passage by both the full House of Representatives and the Senate before it can be signed into law.
During a White House briefing this Thursday, Treasury Secretary Scott Bessent sought to distance the department from the political controversy, noting that the final decision rests entirely with Congress. “It’s all in the hands of Congress,” Bessent said, adding that while the Treasury is completing advance preparations in case the legislation is enacted, the agency will strictly follow all existing federal laws. Secretary Bessent also pushed back against criticism, saying there is nothing “untoward” about placing Trump’s image on the commemorative note.
The proposal also faces a second legal barrier: existing federal statute outlines a fixed list of approved denominations for U.S. banknote production, and $250 is not among the currently allowed denominations. That legal hurdle has amplified criticism from Democratic lawmakers, who argue the initiative prioritizes the president’s ego over pressing public needs.
“As Americans struggle with the rising cost of gas, groceries, housing, and health care, President Trump’s priorities for taxpayer dollars are completely detached from the challenges families face every day,” said Democratic Senator Mark Warner of Virginia, who serves on the Senate Banking Committee. “If this White House put even half as much energy into working to lower costs as it does into stoking the president’s ego, American families wouldn’t need that new $250 bill just to fill up their gas tanks.”
Currently, the $100 bill bearing the portrait of founding father Benjamin Franklin remains the highest denomination in regular production. While the U.S. previously issued larger denominations including $500, $1,000, and even $10,000 notes, those were discontinued in 1969. Though they retain legal tender status, they are no longer in general circulation and are almost exclusively held by private currency collectors.
Developing a new U.S. banknote is a multi-year process that requires coordination across multiple federal agencies, including the Federal Reserve Board and the U.S. Secret Service, with all design details kept strictly confidential to prevent counterfeiting. Per BEP policy, new banknote designs are typically released to the public six to eight months ahead of formal issuance, to allow for global public education and training for cash handlers. “To do so earlier would aid counterfeiters and cause confusion in the marketplace, lowering confidence in U.S. currency,” the BEP notes.
It remains uncertain whether production can be completed in time for the 250th anniversary of U.S. independence, which falls on July 4, 2026. Since returning to office last year, Trump and his allies have repeatedly moved to attach the president’s name and likeness to public national landmarks and symbols: the Kennedy Center has already been renamed to include Trump’s name, his portrait will be added to new U.S. passports, and the presidential aircraft Air Force One is currently being repainted in a color palette selected by Trump.