Arizona Congressman Paul Gosar has called on the Federal Reserve to start issuing $500 bills that would feature President Trump’s portrait.
Gosar, a staunch Trump ally and one of the most trustworthy Republican members of the Congress, authored the Treasury Reserve Unveiling Memorable Portrait (TRUMP) Act, which he claims will “empower Americans with the freedom of more tangible options to save and exchange goods and services.”
“As Bidenflation continues to devalue our currency, the issuance of $500 bills featuring President Trump by the Treasury offers several practical advantages,” Mr. Gosar said.
The legislation would require the Secretary of the United States Treasury to print $500 Federal Reserve notes featuring Trump’s portrait.
Rep. Paul Gosar (R-AZ) wants a $500 bill with Trump’s face on it. pic.twitter.com/nH0J7tgfeQ
— bryan metzger (@metzgov) June 5, 2024
Gosar added that Trump’s face would help create increased tax revenue as a result of increased demand for “numismatic items.”
“Collectors often covet currency with unique designs and historical significance and bills featuring the very popular 45th President will attract considerable attention from collectors,” he said.
Given the current Democratic control of the Senate and White House, such legislation has zero chance of passing, at least with Trump’s face on it.
The current U.S. currency denominations and their featured figures include George Washington on the $1 bill, Thomas Jefferson on the $2 bill, Abraham Lincoln on the $5 bill, Alexander Hamilton on the $10 bill, Andrew Jackson on the $20 bill, Ulysses S. Grant on the $50 bill, and Benjamin Franklin on the $100 bill.
The Treasury Department has previously issued $500 at a time when they were worth multiple times what they are now, however they were discontinued in 1969 due to lack of use.
