The US Treasury Department is preparing for the possible launch of a new $250 bill carrying the face of President Donald Trump, Treasury Secretary Scott Bessent confirmed during a White House press briefing on Thursday. The move, however, still depends on Congress approving a proposed law that would allow a living person to appear on American currency.

Bessent said the Treasury is already making advance preparations in case the legislation is passed. He explained that the department currently follows two important rules regarding US currency. “At present, no living person can be on US currency, and the currency must say ‘In God we trust.’” He added that lawmakers are now trying to change the first rule. Bessent said there is proposed legislation on Capitol Hill to “change the first requirement so that a living person, Donald J. Trump, could be on a $250 bill.”

“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,” Bessent said while speaking to reporters.

According to reports, The Washington Post first revealed the plans regarding the proposed currency note. Bessent connected the idea to the celebrations planned for the United States’ upcoming 250th anniversary. He also linked the issue to rising living costs faced by Americans. The Treasury Secretary said the discussion “bifurcated” from the affordability crisis, as many people continue struggling with the high prices of groceries and fuel.

Defending the proposal, Bessent said, “I don’t think that there’s anything untoward about having the President of the United States, the person who was President of the United States on the 250th anniversary bill.”

The legislation supporting the proposal was introduced last year by Republican Congressman Joe Wilson from South Carolina. The bill was officially referred to the House Financial Services Committee in February 2025. Since then, it has remained under committee review. Before becoming law, the proposal must pass both the House of Representatives and the Senate. It would then require Trump’s signature for final approval.

David Snider, who serves as a spokesperson for Wilson, said the congressman has repeatedly discussed the proposal with House Financial Services Committee Chair French Hill. Snider also said Wilson has spoken several times with both Bessent and Trump regarding support for the bill. According to Snider, the conversations took place “on multiple occasions.”

A Treasury Department spokeswoman also confirmed that the Bureau of Engraving and Printing has already started preparing for the possibility of producing the new banknote. She said the agency “is conducting appropriate planning and due diligence” and “is moving proactively” should Congress approve the legislation and Trump sign it into law.

If the proposed $250 note is eventually introduced, it would not be the only major currency-related move linked to Trump’s presidency. Earlier this year, the Treasury announced that Trump’s signature would begin appearing on paper currency. That decision was described as another first involving a sitting president. Treasury officials had also linked that step to celebrations surrounding the nation’s 250th anniversary.

The efforts to place Trump’s image on currency do not end with paper notes. A federal commission made up of Trump-appointed members has already approved a design featuring Trump’s image on 24-karat commemorative gold coins. These coins are also connected to the anniversary celebrations. However, the design still requires final approval from the Treasury Department before production can begin.

Over the years, Trump and his allies have also worked to place his name and image across several parts of the federal government in ways that many previous presidents did not. Trump’s name has already been attached to institutions and government-related initiatives. These include the Kennedy Centre for the Performing Arts and the US Institute of Peace. His name has also been added to discount drug programs, savings account proposals and even suggested warships.

In Florida, lawmakers recently voted in favour of renaming Palm Beach International Airport after Trump. The president has also placed large banners carrying his image inside the Justice Department and the Department of Labour.

The proposed $250 bill has already sparked debate in political circles because American currency has traditionally avoided featuring living individuals. Still, Treasury officials insist that any further action will depend entirely on Congress changing the current law. Until then, the department says it is simply preparing for every possible outcome in advance.