Legislation introduced in February 2025 to authorize a new $250 denomination featuring a living president's portrait remains stalled in committee without floor consideration or votes, while longstanding statutes limit portraits to deceased individuals. Treasury officials have prepared mock designs tied to the semiquincentennial but confirmed they require congressional enactment before production or issuance can proceed. No recent legislative progress, appropriations, or procedural maneuvers have emerged to accelerate the timeline before year-end. Trader consensus reflects these institutional and timing barriers. Passage of the bill in a remaining session, reconciliation with related currency measures, or an unforeseen procedural override could still shift the outcome before December 31.