The Treasury Department has begun preparatory work on a proposed $250 commemorative Federal Reserve note featuring President Donald J. Trump, according to officials. The initiative aligns with the timing of America’s 250th anniversary and follows legislation introduced in the House.

Treasury Secretary Scott Bessent confirmed that the Bureau of Engraving and Printing is conducting early planning under existing legal frameworks. He emphasized that while Treasury prepares ahead of time, Congress must approve any action for the proposal to advance. The Bureau has stated it is performing due diligence in response to House Bill 1761, introduced by Representative Joe Wilson of South Carolina on February 27, 2025.

The legislation, formally titled the “Donald J. Trump $250 Bill Act,” seeks to amend federal law to permit the printing of $250 bills featuring Trump’s portrait within one year of enactment. It also revises existing provisions to allow living former presidents—specifically those who have served as president—to appear on U.S. currency, bypassing a longstanding ban on current figures.

Representative Wilson framed the bill as honoring the nation’s semiquincentennial and addressing economic challenges. In his statement supporting the measure, Wilson stated: “Bidenflation has destroyed the economy forcing American families to carry more cash. President Trump is working tirelessly to fight inflation and help American families.” The bill was referred to the House Financial Services Committee and has garnered bipartisan support among Republican lawmakers, including Representative Andy Barr’s January 2026 mockup of the proposed note.

House Democratic leader Hakeem Jeffries and Senator Mark Warner criticized the legislation on social media in late May 2026, noting parallels to past commemorative efforts involving historical figures like Calvin Coolidge. Treasury officials have acknowledged similar precedents but stressed that current law prohibits living individuals from appearing on currency—a provision the bill specifically addresses through amendments to existing statutes.

The proposal remains in committee review and requires congressional approval before any physical currency production could occur.