Amid growing concerns about the cost of living as the war with Iran continues, Treasury Secretary Scott Bessent on Thursday defended the Trump administration’s efforts to put President Donald Trump on a specially issued $250 bill.

“I don’t think that there’s anything untoward about having the president of the United States, the person who is president of the United States, on the 250th anniversary bill,” Bessent said during a White House press briefing as he stood in for press secretary Karoline Leavitt, who’s on maternity leave.

Bessent acknowledged The Washington Post’s earlier reporting that two Treasury Department appointees are pressuring the Bureau of Engraving and Printing to create a prototype of the note.

Federal law “prohibits the portrait or likeness of any living person on currency notes, bonds, or securities,” but some lawmakers are searching for a workaround. Bessent said the proposed new Trump note is ultimately up to Congress.

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Erum Salam

Erum Salam is a breaking news reporter for MS NOW, with a focus on how global events and foreign policy shape U.S. politics. She previously was a breaking news reporter for The Guardian.