Trump Wants To Be The First Living President On The New Dollar Bill

They want to launch it to coincide with the 250th anniversary of the country's independence.

The team of US President Donald Trump is promoting the idea of creating a new $250 banknote with his portrait. They want to launch it to coincide with the 250th anniversary of the country's independence.

The Washington Post reports The Washington Post.

In recent months, Trump administration officials have been pressing the U.S. Bureau of Engraving and Printing to develop designs for the new bill. The initiative was overseen by Treasury Secretary Brandon Beach and his adviser Mike Braun.

The banknote was designed by British artist Ian Alexander. He claims that he coordinated the project personally with the president of the United States.

The front side of the layout has a portrait of Donald Trump, as well as the signatures of the head of state and the head of the Ministry of Finance. The reverse side is decorated with an image of Betsy Ross, the author of one of the first American flags. The "250" anniversary logo and the colors of the U.S. flag were also added to the bill.

In the U.S. financial system, such an initiative has caused serious controversy. For more than 150 years, American laws have prohibited the printing of portraits of living people on currency. This rule has been in force since the XIX century after a scandal with an official whose face appeared on the money.

In addition, the U.S. officially does not have a banknote with a face value of 250 dollars. To issue it, it is necessary to obtain a separate decision of Congress.

Experts note that the development of new money is a multi-year process. It requires coordination with the U.S. Secret Service, the Federal Reserve, ATM manufacturers and anti-counterfeiting companies. For example, the creation of the modern $100 bill took more than a decade.

Employees of the Bureau of Engraving are unhappy with the pressure and say that a secure banknote cannot be "printed overnight."

"It takes years of work for such a banknote to work in banks and ATMs and to be safe for people," said an interlocutor of the newspaper.

Ex-agency head Patricia Solimene tried to convince management not to rush, emphasizing that the process would take six to eight years and require changes in laws.

In late April, Solimene was unexpectedly suspended and reassigned. In a letter to colleagues, she wrote that the decision was "not her choice."

Mike Brown, one of the prime movers behind the new bill, became the bureau's interim head.

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