Treasury Secretary Scott Bessent said Thursday the $250 bill with President Donald Trump's picture is up to Congress, where legislation to allow a new currency note has stalled.
Watch Bessent's White House briefing in our video player above.
Bessent affirmed that the Treasury Department does "prepare things in advance." That's a tacit confirmation of a Washington Post story that reported said the agency has produced a mockup of a new $250 bill.
The design has Trump's picture and a 250th anniversary logo celebrating the nation's founding.
The secretary noted that, at least for now, U.S. law does not allow a living person to appear on currency. A bill by Rep. Joe Wilson, R.-S.C., would provide an exemption that would allow Trump's image to appear.
"It's all up to Capitol Hill," Bessent said. "We will stick to the law."
Bessent doesn't confirm tentative Iran agreement
Bessent said any Iran deal must involve opening the Strait of Hormuz, but said he won't "get out ahead of" Trump.
He also downplayed Trump's threat against Oman, saying, "I think the president wanted to punctuate freedom of navigation in the strait."
Bessent said teams are going "back and forth" over a potential Iran deal and insisted oil prices will fall "very quickly" when the war is over.