WATCH: $250 bill with Trump photo depends on Congress, Bessent said during White House briefing

Treasury Secretary Scott Bessent said Thursday that President Donald Trump’s $250 bill is headed to Congress, where legislation to authorize the issuance of a new bill has stalled.

Watch Bessent’s White House briefing in our video player above.

Bessent said the Treasury Department is “preparing things in advance.” This is a tacit confirmation of a Washington Post report that the agency had produced a mock-up of a new $250 bill.

The design features Trump’s photo and a 250th anniversary logo celebrating the nation’s founding.

The secretary emphasized that, at least for now, U.S. law does not allow a living person to appear on bank notes. A bill from Rep. Joe Wilson, R.-S.C., would provide an exemption that would allow Trump’s image to appear.

“It’s all up to the Capitol,” Bessent said. “We will respect the law.”

Bessent does not confirm an agreement in principle with Iran

Bessent said any deal with Iran must involve opening the Strait of Hormuz, but said he would not “preempt” Trump.

He also downplayed Trump’s threat to Oman, saying: “I think the president wanted to punctuate the freedom of navigation in the strait.”

Bessent said teams were going “back and forth” on a possible deal with Iran and insisted that oil prices would fall “very quickly” once the war ended.

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