The U.S. Treasury Department plans to put President Donald Trump’s signature on all new U.S. paper currency, the agency announced on Thursday.
The move would be a first for a sitting president, since traditionally, U.S. paper currency carries the signatures of the Treasury Secretary and the Treasurer, not the president.
It’s the latest instance of Trump putting his name and likeness on American cultural institutions, following his renaming of the U.S. Institute of Peace, the Kennedy Center performing arts venue and a new class of battleships, among other tributes.
And the plans come in tandem with an ongoing effort to get Trump’s face on a coin, which has also drawn criticism since federal law prohibits the depiction of a living president on U.S. currency.
Earlier this month, a federal arts commission approved the final design for a 24-karat gold commemorative coin bearing Trump’s image to help celebrate America’s 250th birthday on July 4. The vote by the U.S. Commission of Fine Arts, whose members are supporters of the Republican president and were appointed by him earlier this year, was without objection.
Treasury says the plan to include Trump’s signature on all new paper currency is intended to honor the nation’s 250th birthday, and that Treasury Secretary Scott Bessent’s signature would also appear on the currency.
Bessent said in a statement that “there is no more powerful way to recognize the historic achievements of our great country” than with U.S dollar bills bearing Trump’s name.
Michael Bordo, director of the Center for Monetary and Financial History at Rutgers, said the move will undoubtedly come with political pushback, “but I do not know if he has crossed any legal red lines” since the Treasury Secretary may have the authority to decide who signs the currency.
In 1862, Congress authorized the Treasury Secretary to design and print paper currency, known as “greenbacks,” to finance the Civil War.
The U.S. Bureau of Engraving and Printing is responsible for producing all paper currency while the U.S. Mint produces all the coins. According to the Federal Reserve, more than $2 trillion in Federal Reserve notes are in circulation.
Democrats criticized the move in part because the announcement comes as Americans face rising costs at the grocery store and the gas pump. The war in Iran , which began Feb. 28, has caused oil and gas prices to soar, deepening people’s affordability concerns.
Rep. Shontel Brown, D-OH, tweeted on X Thursday evening that the Treasury plan is “gross and un-American. But at least it will remind us who to thank when we pay more for gas, goods, and groceries,” she said.
U.S. Treasurer Brandon Beach said in a statement that printing Trump’s signature on the American currency “is not only appropriate, but also well deserved.”
Bordo said, “It also means that many years from now those bills will be collectors’ items.”
This story was originally featured on Fortune.com
