Staff Reports
Rep. Paul Gosar from Arizona introduced a new bill on Wednesday called the TRUMP Act. This bill suggests that President Donald Trump’s portrait should be featured on the $500 bill. Rep. Gosar believes that this new currency will help combat the decrease in value of the dollar, also known as “Bidenflation.” He thinks that having larger-value bills with President Trump’s portrait will give Americans more options for saving and exchanging goods and services.
Gosar also argues that using physical money, like these new $500 bills, is important because it allows Americans to have more privacy and security compared to using digital banking. He believes that relying solely on digital banking makes Americans more vulnerable to surveillance and censorship. The lawmaker sees his proposal as an opportunity for collectors to seek out the new bills, potentially increasing demand for these “numismatic items” and generating revenue for the government.
GOP lawmaker introduces legislation to feature Trump’s face on $500 billhttps://t.co/7NALgFNGFh pic.twitter.com/WJriIIgdmr
— The Washington Times (@WashTimes) June 6, 2024
This isn’t the first time that the government has considered changing the faces on American money. In the past, the Biden administration wanted to replace Andrew Jackson’s portrait on the $20 bill with a portrait of Harriet Tubman, an abolitionist. However, this plan was halted during the Trump administration. As a compromise, Congress passed a bill for the U.S. Mint to release three commemorative coins featuring Tubman.
Rep. Gosar’s bill to honor President Trump on the $500 bill is unlikely to pass in the current Democratic-led Senate and White House, but it has started a conversation about the future of American currency.
