(Dmytro “Henry” Aleksandrov, Headline USA) Rep. Paul Gosar, R–Ariz., introduced a measure in his press release that would order the printing of $500 bills with a portrait of Donald Trump on them.
The politician called the measure the “Treasury Reserve Unveiling Memorable Portrait (TRUMP) Act.”
“The Secretary of the Treasury shall print Federal reserve notes in the denomination of $500 and, notwithstanding section 5114(b) of title 31, United States Code, such notes shall feature a portrait of the 45th President of the United States,” the proposal said.
Trump, the presumptive 2024 presidential nominee from the Republican Party, is seeking to defeat Joe Biden during this year’s election.
“As Bidenflation continues to devalue our currency, the issuance of $500 bills featuring President Trump by the Treasury offers several practical advantages. First, larger-value currency will empower Americans with the freedom of more tangible options to save and exchange goods and services,” Gosar said.
He then gave another reason why the United States needs a large-denomination currency.
“The absence of large-denomination currency issued by the Treasury encourages Americans to rely on digital banking, which faces greater vulnerability to surveillance and censorship,” Gosar said.
Additionally, the bill itself will become a valuable item for collectors.
“Furthermore, from a collector’s perspective, these $500 Trump bills will become highly sought after, generating revenue for the government through 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.
Gosar then highlighted once again that this would benefit the government.
“This will no doubt create a market for the $500 Trump bills far beyond their face value and increase the seigniorage earnings of the government, thus increasing overall revenues,” he said.
