Legislation introduced in February 2025 to authorize a new $250 denomination featuring a living president remains stalled in committee with no floor vote or passage achieved. Existing federal law restricts currency portraits to deceased individuals, and the measure would require both a statutory exemption and appropriations or directive for the Bureau of Engraving and Printing to design and produce the notes before year-end. Treasury officials have prepared mock-ups and expressed readiness pending congressional action, yet partisan opposition, Democratic calls for oversight, and the compressed timeline through the remainder of 2026 have kept enactment prospects minimal. Traders assign only a 2.8% chance of issuance this year, reflecting these procedural and legislative barriers. Late-session reconciliation or an unexpected override of standard currency rules could still shift the outcome before December 31.