Republican Rep. Paul Gosar of Arizona has introduced a bill that would mandate the printing of $500 bills featuring former President Donald Trump’s image. press release.
The bill is called the “Treasury Reserve Commemorative Portrait Release (Trump) Act.”
“As Biden Inflation continues to devalue currency, the Treasury Department’s issuance of $500 bills featuring President Trump provides several practical benefits.”
of suggestion The Federal Reserve Act is amended by adding the following statement: “The Secretary of the Treasury shall issue Federal Reserve notes in the denomination of $500, and notwithstanding Section 5114(b) of Title 31, United States Code, such notes shall bear the portrait of the forty-fifth President of the United States.”
Trump, who is seen as a possible 2024 Republican presidential nominee, is seeking to defeat President Joe Biden in the election later this year.
“As Biden Inflation continues to devalue currency, the Treasury’s issuance of a $500 bill featuring President Trump provides several practical benefits. First, higher-denomination bills give Americans more tangible options for saving and exchanging goods and services. Additionally, by not issuing higher-denomination bills, the Treasury will encourage Americans to rely on digital banking, which is more vulnerable to surveillance and censorship,” Gosar said in a statement.
“Furthermore, from a collector’s perspective, these Trump $500 notes will be extremely popular as they will generate revenue for the government through increased demand for numismatic items. Collectors often desire banknotes with unique designs or historical significance, and a note featuring the highly popular 45th President will attract considerable attention from collectors. This will undoubtedly create a market for Trump $500 notes that will command prices well in excess of their face value, increasing the government’s seigniorage revenues and, consequently, overall revenues,” he added.
Currently, the 100 dollar bill is maximum Denominations issued in the United States
“No United States bills over $100 are available from the Treasury Department, the Federal Reserve System, or the Bureau of Printing.” Bureau of Engraving and Printing“On July 14, 1969, the Treasury Department and the Federal Reserve announced that the $500, $1,000, $5,000, and $10,000 bills were being phased out immediately due to low usage. These bills were issued until 1969, but were last printed in 1945.”
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