Donald Trump’s cash problem

| 9:00 pm EDT June 13, 2024
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We’ve all seen Donald Trump’s mugshot, but what about his face on a $500 bill? Arizona Rep. Paul Gosar has introduced legislation that would do just that. However, it’s just another political stunt by an off-the-rails Republican lawmaker that is destined for failure. Rather than offer serious proposals to address the nation’s challenges, Gosar once again is proving he holds office to manufacture headline-grabbers aimed at keeping Trump’s political future alive.

Gosar’s bill, “Treasury Reserve Unveiling Memorable Portrait Act of 2024” or the “TRUMP Act of 2024” (get it?), would put the unnecessary $500 bill back in circulation after several decades of dormancy. One major reason this bill is doomed is because it would violate the Thayer amendment, an 1866 federal law that bans living people from being honored on U.S. currency, requiring history-based reflection.

In a brief statement, Gosar lectured that these new Trump D-notes are necessary “[a]s Bidenflation continues to devalue our currency.” He then proceeded to list peculiar arguments, such as that such larger-denomination bills would help Americans stop using digital banking, “which faces greater vulnerability to surveillance and censorship.” Gosar finished by plugging the unhinged idea that the Trump bills would be a huge revenue-producer for the government because they would be exchanged “far beyond their face value.”

In contrast to Gosar’s political stunt, the Trump administration tried to derail Obama-era plans to redesign the $20 bill to feature Harriet Tubman, rather than keep Andrew Jackson’s portrait. This redesign initiative complies with the law while aiming to honor a key historical figure who fought for freedom and equal rights. Unlike Gosar’s latest Trumpian fantasy, the Tubman bill is likely to become a well-deserved reality.