Social Media Ridicules GOP Lawmaker's $500 Trump Bill Proposal: 'Aren't There Better Things He Could Do?'

Republican Sen. Paul Gosar of Arizona has put forth a bold and controversial proposal. He introduced a new $500 bill that would bear the portrait of former President Donald Trump. On Wednesday, Gosar unveiled the "Treasury Reserve Unveiling Memorable Portrait (TRUMP) Act of 2024," which would amend the Federal Reserve Act to require the printing of $500 Federal Reserve notes featuring Trump's likeness. In proposing this legislation, Gosar claims it would offer "practical advantages" at a time when "Bidenflation continues to devalue our currency."

He argues that issuing high-denomination $500 bills would "empower Americans with the freedom of more tangible options to save and exchange goods and services." However, the Arizona senator's proposal to feature Trump on this potential new high-denomination currency has been widely mocked and derided across social media and by political opponents. "Fitting that it's orange," quipped one commenter, sharing an image of the $500 bill from the Monopoly board game. 

Others seized on the idea of honoring the former president with currency despite his recent conviction on charges related to hush money payments made during his 2016 campaign to allegedly buy the silence of adult film actresses. "If they ever do a $130,000 bill, I'd back it," one critic tweeted, referencing the total amount paid in those hush money settlements. Some simply questioned whether the proposal represented the best use of Gosar's time as a legislator, with one person asking, "Aren't there better things he could do for the people of Arizona?" The TRUMP Act is expected to face tremendously long odds of passage given Democratic control of the Senate and White House.

Gosar also contends that minting these bills could drive people away from digital payment systems, which he believes "face greater vulnerability to surveillance and censorship." The last $500 bill printed in the United States bore the portrait of former President William McKinley and was issued in 1945 before being discontinued in 1969 due to lack of use, as per The Raw Story. While $500 was an extremely large denomination at that time, Gosar argues the reintroduction of such a high-value currency could help preserve Americans' cash savings against the impacts of inflation.

While Gosar argues the legislation could generate revenue through sales of "numismatic items" to collectors interested in the Trump currency, most critics view the proposal as a cynical and overtly partisan attempt to glorify the controversial former president, as per The Washington Times. Many argue that Trump's perpetuation of false claims about election fraud and his role in inciting the January 6th insurrection should disqualify him from being honored on U.S. currency. For most observers, the proposal amounts to little more than a GOP stunt aimed at trolling Trump's political opponents.