**Trader consensus that a $250 bill featuring President Trump will not be issued in 2026 reflects the absence of enacted legislation required to create a new denomination and authorize a living person's portrait.** Federal law under the Thayer Amendment bars living individuals from U.S. currency, and the Treasury Secretary lacks unilateral authority to introduce a $250 note. A bill introduced by Rep. Joe Wilson in 2025 to enable this for the semiquincentennial has not advanced through Congress. While Treasury officials conducted preliminary design work and mockups earlier in the year in anticipation of potential legislation, they have repeatedly stated that production depends on congressional approval, which remains stalled. Realistic scenarios that could still shift the outcome before year-end include late-session passage or an unexpected procedural maneuver, though the timeline and procedural barriers make such developments improbable.