00:00The White House is pushing for a new way to celebrate the United States' 250th birthday this
00:05summer. The administration wants to release a $250 bill with President Trump's likeness.
00:10In this economy? Now, if the Treasury Department moves ahead with the plan,
00:15it would be the first time a living person's face landed on American money since 1866.
00:21There are a few, shall we say, hiccups in this plan. 1866 is also the year the Thayer Amendment
00:28was passed, a federal law which bans putting a living person on our cash and coins. Another
00:33federal law lists all the allowed denominations of money in the country, and $250 is not on it.
00:39Nonetheless, U.S. Treasurer Brandon Beach and his top advisor Mike Brown pushed for the development
00:44of the new banknote. Beach even gave staff a peek at some mock-up designs. But the director of the
00:49Bureau of Engraving and Printing, a department I have never heard of, seemed to spoil the plans
00:54by pointing out that pesky Thayer Amendment hurdle. A source told the Washington Post that the plan
00:59was stopped in its tracks, noting, quote, currency often takes six to eight years to produce,
01:04particularly one of such high value. But that's not the end of the story. Treasury Secretary Scott
01:09Besant weighed in from the White House press briefing room. Right now, there is proposed legislation
01:14in front of the House, in front of the Senate, to change the first requirement so that a living
01:20person, Donald J. Trump, could be on a $250 bill. So it's all in the hands of the, it's all
01:29up on Capitol Hill.
Comments