White House pushes Congress to approve $250 bill with Trump’s image

Key Points:

• The White House is advocating for Congress to approve a $250 bill featuring Donald Trump’s portrait, which would require changing a longstanding law prohibiting living persons on US currency, according to Treasury Secretary Scott Bessent.
• The proposed bill is intended to commemorate the United States' 250th anniversary of independence, with the Treasury already preparing prototypes, though legal changes must come from Congress.
• The legislation faces significant opposition, particularly in the Senate where it is unlikely to reach the 60 votes needed, and House Democrats, including Hakeem Jeffries, have publicly rejected the idea.
• The law banning living persons on currency dates back to 1866, enacted after a scandal involving a currency superintendent who appeared on a note, highlighting the controversial nature of the proposal.
• Bessent also commented on unrelated issues, predicting a quick drop in gas and oil prices post-conflict in Iran and expressing confidence in the new Federal Reserve chair, Kevin Warsh, to balance inflation and growth.