Congressman Paul A. Gosar, D.D.S. (AZ-09) has introduced H.R. 8620 in a press release, known as the Treasury Reserve Unveiling Memorable Portrait (TRUMP) Act. This legislation mandates the Secretary of the Treasury to issue $500 Federal Reserve notes featuring a portrait of former President Donald J. Trump.
Gosar emphasized the practical advantages of issuing $500 bills during an era of rising inflation under the Biden administration. “As Bidenflation continues to devalue our currency, the issuance of $500 bills featuring President Trump offers several practical advantages,” said Gosar.
He outlined key benefits, such as empowering Americans with more tangible options for saving and trading. The absence of large-denomination currency forces reliance on digital banking, which is more susceptible to surveillance and censorship.
Additionally, Gosar noted the potential for significant revenue generation from collectors. “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,” Gosar stated. This market demand could lead to increased seigniorage earnings for the government, boosting overall revenues.