Sponsor
Jimmy Gomez
Representative · D-CA
Representative · D-CA
The bill strengthens legislative oversight and public confidence by barring a sitting President's signature on new currency absent a statutory waiver, but it reduces administrative flexibility and risks delays and added costs for issuing redesigned or security‑updated currency.
Taxpayers and the general public are more likely to trust U.S. currency because the bill prevents a sitting President's signature on new currency unless Congress later approves a waiver, reducing the appearance of self‑dealing.
Congress gains explicit oversight: any waiver permitting a President's signature on new currency must be enacted by statute, ensuring legislative review of such waivers.
Taxpayers, state governments, and businesses could face delays in issuance of new currency or securities when timely design or security changes require a congressional waiver, because political gridlock could prevent passage of the needed statute.
Taxpayers, collectors, and the Treasury will have reduced flexibility for currency and securities design (including commemoratives or rapid security upgrades) since design changes would require additional congressional action.
Federal employees at the Treasury and Bureau of Engraving and Printing will need to implement new issuance processes and system changes to exclude sitting Presidents' signatures, creating administrative and implementation costs.
Based on analysis of 1 section of legislative text.
Bars issuance of U.S. currency and government securities that bear the signature of any person while that person is serving as President, with reversal allowed only by an explicit later statute.
Prohibits the United States from issuing currency or government securities that bear the signature of any person while that person is serving as President. The prohibition can be undone only if a later law explicitly names and waives this restriction.
Official title: To amend title 31, United States Code, to prohibit the issuance of United States currency and securities containing the signature of the sitting President.
Introduced April 2, 2026 by Jimmy Gomez · Last progress April 2, 2026