U.S. Treasury Secretary Scott Bessant said on May 28 that the Treasury Department has prepared a plan to print $250 bills bearing Trump's image to commemorate the 250th anniversary of the founding of the United States, should Congress pass the relevant bill.
Current laws still prohibit living persons from having their banknotes printed.
Current U.S. law prohibits living persons from appearing on banknotes and securities. At a press conference, Bessant stated that the Treasury Department is currently bound by two requirements: first, that living persons cannot appear on currency; and second, that banknotes must bear the inscription "In God We Trust."
He stated that both the House of Representatives and the Senate are currently considering proposals to amend the first restriction. In other words, the Treasury Department is prepared, but whether it can proceed depends on whether Congress first amends the law.
The ban dates back to 1866.
This U.S. restriction stems from an amendment passed by Congress in 1866. The regulation prohibits the use of portraits of living persons on U.S. bonds, banknotes, small change, and postal money.
Before this rule was introduced, the image of Treasury official Spencer Clark was printed on a five-cent bill, sparking controversy. Subsequently, Congress explicitly included the rule that "living persons cannot appear on currency."
A bill of exemptions has already been proposed in Congress.
In February of this year, South Carolina Republican Congressman Joe Wilson introduced a bill to create exceptions for former U.S. presidents, thereby circumventing the current ban.
If the bill passes, Trump could become the first living person to appear on U.S. banknotes in over 160 years. Bessant stated that the Treasury Department will proceed with the arrangements once the legal amendments are finalized.
Trump's image has been used in other commemorative media.
In addition to the proposed banknotes, Trump's image will also appear on U.S. commemorative coins. Previously, his image was used in promotional materials for a $1 million "Gold Card" visa and on banners hanging outside the U.S. Department of Justice headquarters.
Additional information:In March of this year, the U.S. Treasury Department also announced that future U.S. banknotes would include Trump's signature, a departure from the long-standing practice of U.S. banknotes typically being signed by Treasury officials.
