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A portrait of former President Donald Trump could grace $500 bills if new legislation from a House Republican comes to fruition.

On Wednesday, Rep. Paul Gosar (R-AZ) introduced the Treasury Reserve Unveiling Memorable Portrait (TRUMP) Act, mandating the Treasury secretary to issue $500 Federal Reserve notes featuring Trump’s image. Gosar emphasized that this proposal offers practical benefits, particularly in the context of “Bidenflation,” which he claims continues to erode the value of the U.S. dollar.

“First, larger-value currency will empower Americans with more tangible options for saving and exchanging goods and services,” Gosar explained. “Furthermore, the lack of large-denomination currency encourages reliance on digital banking, which is more susceptible to surveillance and censorship.”

Currently, the federal government does not issue U.S. currency denominations above $100. The last $500 bills were printed in 1945 and issued until 1969. Historical $500 notes featured John Marshall, a Founding Father, and later, President William McKinley. The largest note ever printed was the $100,000 Gold Certificate.

Gosar contended that $500 bills bearing Trump’s portrait would become highly coveted by collectors, potentially generating significant revenue for the government. “Collectors often seek out currency with unique designs and historical significance. Bills featuring the very popular 45th President will attract considerable attention from collectors,” he stated.

While the legislation faces steep challenges, given that the Senate and the White House are controlled by Democrats, Gosar argued that the proposal could boost federal income. He pointed out that the national debt is nearing $35 trillion, with no signs of deceleration.

“This initiative will undoubtedly create a market for the $500 Trump bills that far exceeds their face value, thereby increasing the seigniorage earnings of the government and enhancing overall revenues,” Gosar concluded.