Federal law bars printing images of living people on US currency, but Trump allies in Congress are moving to make an exception.
DOJ is probing a nonprofit run by billionaire Reid Hoffman that funded a portion of E. Jean Carroll's civil litigation against President Trump, several sources said.
Treasury Secretary Bessent backed the idea, which would require legislation allowing a living person to appear on currency.
Treasury Secretary Scott Bessent revealed Thursday that 6 million American children are enrolled in the about-to-launch "Trump Accounts" while brushing off what he called "short-term challenges" to the economy.
An expert in Middle East affairs shared a startling prediction about President Donald Trump's latest peace plan for the region during a new podcast interview on Thursday. Trump has demanded that more Muslim-majority countries in the Middle East sign on to the Abraham Accords, a bilateral agreement the first Trump administration struck with some Middle Eastern countries in 2020, as part of the peace deal for the war in Iran. Reporting from Politico suggests that the idea has been met with "laughter, dismissal and, often, silence" from leaders in Middle Eastern countries. Malcolm Nance, a former intelligence officer, said on a recent episode of the "PolitiCon" podcast that the idea is "mindless" and could lead to a resurgence of extremist groups the U.S. fought to defeat during the War on Terror. "Trump seems to think that if I allow Israel to use force or Iran to use force, I can coerce you into doing something which technically could start the revival of ISIS and al-Qaeda in the Muslim world," Nance said. The war in Iran has metastasized from an isolated conflict between the U.S., Israel, and Iran into a regional conflict over the last three months. Iran retaliated to American and Israeli bombing campaigns by striking Israel, Saudi Arabia, and other U.S. allies in the region. In turn, Trump appears to be using Iran's strikes as leverage to get more Middle Eastern countries to sign on to the Abraham Accords, Nance suggested. "Trump is so absolutely desperate to get something out of this war with this little trick," Nance said. "I can't wait to read who was the person to come up with this crazy plan that we're losing the Iran war.""It's really bizarre. This is Bizarro World," he added.
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$1.776 billion fund set up after president settled suit against IRS
Supreme Court Justice Samuel Alito's son, Philip Alito, has been working as a political appointee attorney at the U.S. Treasury Department's Office of the General Counsel since the early months of President Donald Trump's second administration, raising serious conflict of interest concerns.According to reports by NOTUS, Philip Alito's presence was treated as something close to a government secret. "If people were introducing themselves by first and last name, he'd just say 'Phil,' not Phil Alito," said one former official. "He's a pretty soft-spoken guy."Four former government officials also claimed he maintains no public resume or LinkedIn profile. As an attorney-adviser in the general counsel's front office, he was briefed on important Treasury matters and provided legal feedback at the highest levels. The Treasury Department's general counsel's office handles legal matters related to taxation, economic policy, and law enforcement, including potential cases challenging Trump's anti-weaponization fund that could reach the Supreme Court. A tariff lawsuit naming the Treasury as defendant was argued before the justices in November, with Philip Alito's employment never disclosed in court documents. Justice Alito did not recuse himself from the case, nor did he respond to a request for comments by NOTUS.Watch the video below. Your browser does not support the video tag.
Republican lawmakers want a $250 bill featuring President Trump for the nation's 250th anniversary celebration, but the proposal faces legal and legislative hurdles.Why it matters: Federal law bars living people from appearing on U.S. currency, creating a significant obstacle to the proposal without congressional action.State of play: The Washington Post reported Thursday that, despite the stalled legislation, U.S. Treasurer Brandon Beach and his senior adviser requested prototypes of the $250 bill.The Treasury Department already announced that the president's signature will appear on paper currency to honor the nation's 250th, a first for a sitting president.Catch up quick: A Treasury spokeswoman confirmed to Axios that in response to "active legislation," the Bureau of Engraving and Printing (BEP) was "moving proactively" to produce the "commemorative note" and "conducting appropriate planning and due diligence."Rep. Joe Wilson (R-S.C.) introduced a bill last year that would require Treasury Secretary Scott Bessent to print $250 notes featuring Trump's portrait, but the proposal has stalled in the House Committee on Financial Services.A Republican committee aide told Axios the panel is talking with its members and senators about the idea.Behind the scenes: A spokesman for Wilson said the congressman had discussed moving the bill forward with the committee's chair multiple times and that both Bessent and Trump spoke with Wilson "about their support for this on multiple occasions."Beach backed Wilson's proposal and offered to draft mock-ups of the proposed note, per a letter provided to Axios by the congressman's office.Beach acknowledged in the correspondence he was aware the law banned living people from appearing on U.S. currency but added that he believes it is "appropriate for us to honor the sitting President for the 250-year celebration."However, Beach "never asked staff to print the $250 note before congressional action occurs," the Treasury spokeswoman told Axios.Friction point: U.S. Code reads, "Only the portrait of a deceased individual may appear on United States currency and securities."After a then-living Treasury official, Spencer Clark, appeared on a note and caused public uproar, Congress prohibited the portrait or likeness of any living person on currency notes, bonds or securities.A separate piece of U.S. Code specifies the denominations of notes to be $1, $2, $5, $10, $20, $50, $100 and so on. It does not include a $250 bill.But Bessent said in a Thursday briefing that he doesn't believe "there's anything untoward about having the president of the United States ... on the 250th anniversary bill."Yes, but: Wilson's legislation has shown little movement, and the BEP says banknote development can take years of testing.The bottom line: We're likely a long way away from Americans carrying Trump dollars in their wallets.But the possibility of legal challenges and the risk of running afoul of historic norms hasn't stopped the administration in the past.Go deeper: Here's how U.S. residents feel about Trump's signature on American cash