The US Treasury Department has disclosed plans to put President Donald Trump’s signature on all new US paper currency.
The decision, under plans to mark the 250th anniversary of the country’s Independence Day on July 4, marks a first for a sitting President.
Until now, US banknotes have featured the signature of the Treasury Secretary and the Treasurer. US banknotes are divided into denominations of $1, $2, $5, $10, $20, $50, and $100.
According to the US Treasury, the plan to include Trump’s signature on all new paper currency is intended to honor the nation’s 250th birthday, and that Treasury Secretary Scott Bessent’s signature would also appear on the currency.
The move is the latest instance of Trump putting his name and likeness on American cultural institutions. Trump has attached his name to a growing list of institutions and projects since returning to the White House, including the John F Kennedy Center for the Performing Arts, the US Institute of Peace and an upcoming class of battle ships.
The plans to have Trump’s signature on US banknotes come in tandem with an ongoing effort to get Trump’s face on a coin, which has also drawn criticism since federal law prohibits the depiction of a living President on US currency.
Earlier this month, a vote by the US Commission of Fine Arts, led by Trump appointee Rodney Mims Cook Jr, and whose members are supporters of the Republican President and were appointed by him earlier this year, approved the final design for a 24-karat gold commemorative coin bearing Trump’s image to help celebrate America’s 250th birthday on July 4.
The announcement, which relied on a loophole in a law that prohibits depictions of living presidents on circulating currency, prompted backlash from critics, who likened the move to the behaviour of dictators and monarchs.
In the Treasury statement, Treasury Secretary, Scott Bessent asserted that under President Trump’s leadership, the US is on a path “toward unprecedented economic growth, lasting dollar dominance, and fiscal strength and stability.”
“There is no more powerful way to recognize the historic achievements of our great country and President Donald J. Trump than U.S dollar bills bearing his name, and it is only appropriate that this historic currency be issued at the Semiquincentennial.”
Scott Bessent
Also, Treasurer Brandon Beach stressed that as the 250th anniversary of “our great nation” approaches, American currency will continue to stand as a symbol of prosperity, strength, and “the unshakable spirit of the American people under President Trump’s leadership.”
“The President’s mark on history as the architect of America’s Golden Age economic revival is undeniable. Printing his signature on the American currency is not only appropriate, but also well deserved.
Brandon Beach
Move To Have Trump’s Signature On US Currency Criticised
Democrats criticized the move in part because the announcement comes as Americans face rising costs at the grocery store and the gas pump.
The war in Iran, which began Feb. 28, has caused oil and gas prices to soar, deepening people’s affordability concerns.
California Governor Gavin Newsom, who is widely seen as a frontrunner for the Democratic nomination for President in 2028, responded to the Treasury’s announcement in post on social media. “Now Americans will know exactly who to blame as they’re paying more for groceries, gas, rent, and health care,” Newsom said.
Rep. Shontel Brown also tweeted on X that the Treasury plan is “gross and un-American.” “But at least it will remind us who to thank when we pay more for gas, goods, and groceries,” she added.
Michael Bordo, Director of the Center for Monetary and Financial History at Rutgers, opined that the move will undoubtedly come with political pushback, “but I do not know if he has crossed any legal red lines” since the Treasury Secretary may have the authority to decide who signs the currency.
In 1862, Congress authorized the Treasury Secretary to design and print paper currency, known as “greenbacks,” to finance the Civil War. Bordo said, “It also means that many years from now those bills will be collectors’ items.”
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