Thirty state financial officers have called on President Trump to instruct the Treasury Department to release $39 billion in unclaimed war and savings bonds to Americans, coinciding with the nation’s 250th anniversary celebrations. In a letter sent to Trump, the treasurers emphasized that many original bondholders have passed away without informing their heirs, lost documentation, or simply forgotten about the bonds. They argue that these matured bonds should be returned to their families rather than remain held by the government.
The officials, representing states including Alabama, Idaho, and North Carolina, highlighted the patriotic motivations behind purchasing these bonds, originally sold as a means of supporting the country during times of need. They pointed out that while Trump previously sought to expedite the release of matured bonds during his first term through an executive order in 2020, subsequent legislation, namely the Biden administration’s Secure 2.0 Act, has created complications. This act mandates that states must demonstrate ownership of abandoned bonds before the Treasury can provide information about the bondholders, a requirement they contend is impractical.
The letter celebrates the historical significance of savings bonds, reflecting America’s civic commitment, particularly during World War II. With over 6.8 million paper savings bonds issued since 1935, the officials noted that although most funds have been claimed, millions remain unredeemed. They stress that returning these bonds is a way to honor the legacy of those who contributed to the nation.
The treasurers believe that an executive order from Trump could eliminate regulatory hurdles put in place by the Biden administration, essentially addressing what they describe as a “property-rights issue” without needing further congressional action.
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