If Congress does not approve, Washington will not insist on issuing the $250 bill featuring President Donald Trump.
Treasury Secretary Scott Bessent made this statement. He replied "of course" when asked if the administration would back down if the bill fails.
Bessent emphasized full compliance with laws during Senate Finance Committee hearings.
In late May, he confirmed his department is working on the bill's design. He noted that legislative changes are needed for the new denomination.
Current rules prohibit living persons from appearing on currency. However, a bill to remove this restriction is being discussed in the House of Representatives.
"The Washington Post" reported that if realized, Trump would be the first person in 150 years to appear on US currency while alive.
