A group of Senate Democrats has called for an investigation into whether the Treasury Department improperly allocated resources to develop a $250 banknote featuring President Donald Trump's face, despite legal restrictions. In a letter to the Treasury's Office of Inspector General, the lawmakers, led by Senator Elizabeth Warren, questioned if the project constituted waste, fraud, or abuse.
The Democrats cited reports that Treasury Secretary Scott Bessent confirmed in May that the Bureau of Engraving and Printing had begun work on renderings for the bill, even though federal law only permits deceased individuals to appear on currency and Congress has not authorised the change. The letter asked the inspector general to determine how much time and money were spent and which staff were involved.
Republican Representative Joe Wilson introduced legislation last year to allow the $250 bill with Trump's portrait to commemorate the US's 250th anniversary. Bessent acknowledged the legal hurdle but defended the planning, saying it was appropriate for the president to be featured on a 250th anniversary note. A Treasury spokesperson said the bureau was conducting due diligence in case the legislation passed.
Democrats have criticised the proposal, with House Minority Leader Hakeem Jeffries calling it “Monopoly money.” The letter was co-signed by Senate Minority Leader Chuck Schumer and other senior Democrats. The Treasury Inspector General's office confirmed receipt of the letter but declined further comment.
