Scott Bessent defends Trump $250 bill push despite 'living-president' currency rule
WASHINGTON, DC: Treasury Secretary Scott Bassent publicly backed putting an image of President Donald Trump on commemorative currency even as federal rules still bar living presidents from appearing on money.
Bassent defended the idea during a sit-down interview with Larry Kudlow, a conservative contributor for Fox Business, at the Ronald Reagan Presidential Library in California on Friday, May 29. He also argued that preparations for the proposed commemorative $250 bill were already underway, despite Congress not having approved the plan.
Trump currency push
“We are going to have the image of President Trump on a coin,” Bessent said.
He pointed to a commemorative half-dollar coin issued during America’s 150th anniversary celebration, which featured then-President Calvin Coolidge alongside George Washington.
Bessent acknowledged current federal restrictions but suggested they should not stop the broader effort.
“At present, it has to be someone who is not living, and it must say, ‘In God We Trust.’ I can do whatever else I want,” he said. “And I think that if you are the president, just like Calvin Coolidge was for the 150th, for the 250th, President Trump should be on there.”
The push comes as South Carolina Republican Rep. Joe Wilson backs legislation that would remove the living-president restriction for commemorative currency.
Wilson introduced the bill in February last year, though it has not advanced out of House committees.
Speaking to Fox LiveNOW on Friday, May 29, Wilson dismissed criticism that the proposal was political.
“It’s so clear: this specific year, 2026, Donald Trump is the president,” he said. “What a time to show tribute to our country and to recognize the president who, I believe, has just been a symbol of freedom and democracy around the world.”
Scott Bessent defends preparations
The renewed attention followed a report from The Washington Post claiming Treasury Department and White House officials had already moved ahead with commemorative $250 bill designs before congressional approval.
That quickly led to questions during a White House media briefing, where CNN anchor Kaitlan Collins pressed Bessent on why officials were preparing designs without finalized authorization.
“We have to prepare in advance,” Bessent responded.
“You can’t draw something up the day before,” he added.
The administration has already secured support for another Trump-themed commemorative design. A $1 anniversary coin featuring Trump’s likeness received backing from the Commission of Fine Arts’ presidentially appointed board in March.
The commemorative currency design coincides with a broader organizing effort from White House Commission on Freedom 250 to mark the anniversary.
Planned events tied to the anniversary include a state fair, a FIFA World Cup fan center on the National Mall, an IndyCar race, and a UFC fight scheduled for the White House South Lawn.
