WASHINGTON – Treasury Secretary Steven Mnuchin mentioned Wednesday the redesign of the $20 invoice to function 19th century abolitionist chief Harriet Tubman has been delayed.
The choice to interchange Andrew Jackson, the nation’s seventh president, with Tubman on the $20 invoice had been made by Mnuchin’s predecessor, former Treasury Secretary Jacob Lew, who had served within the Obama administration.
Tubman’s destiny had been unsure for the reason that 2016 marketing campaign based mostly on crucial feedback by then-candidate Donald Trump, who branded the transfer an act of “pure political correctness.”
Mnuchin, nevertheless, mentioned the delay in unveiling a $20 redesign had been prompted by the choice to revamp the $10 invoice and the $50 invoice first for safety causes. He mentioned these payments will now be launched earlier than a redesigned $20 invoice.
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Mnuchin made the announcement of the delay in response to questions from Rep. Ayanna Pressley, D-Mass., throughout an look earlier than the Home Monetary Companies Committee.
The revealing of the redesigned $20 invoice that includes Tubman, well-known for her efforts spiriting slaves to freedom on the Underground Railroad, had been timed by the Obama administration to coincide with the 100th anniversary in 2020 of passage of the 19th modification giving girls the appropriate to vote.
“At the moment our forex doesn’t replicate the range of people that have contributed to our nice American historical past,” Pressley instructed Mnuchin.
Mnuchin wouldn’t say whether or not he supported protecting Tubman on the redesigned $20. He mentioned beneath the revised timeline, that call will likely be left to whoever is Treasury secretary in 2026.
Mnuchin mentioned the redesigned $20 invoice is not going to come out till 2028 which he mentioned implies that a last design for that invoice is not going to be introduced till 2026.
He mentioned the redesign of the payments was being achieved to introduce new security measures to make it more durable for the payments to be counterfeited. Primarily based on the safety points, it had been determined to introduce redesigned $10 payments and $50 payments forward of the $20 invoice.
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“It’s my accountability to deal with the difficulty of counterfeiting and the security measures,” Mnuchin mentioned.
In the course of the 2016 marketing campaign, Trump had praised Jackson for his “historical past of large success” and urged that Tubman may very well be positioned on a distinct invoice such because the $2 invoice.
Lew had arrived on the resolution to displace Jackson on the $20 invoice after first producing a loud outcry together with his preliminary proposal to place a girl on the $10 invoice, changing Alexander Hamilton. Followers of Hamilton, a bunch that had grown with the recognition of the hit Broadway musical, felt it could be improper to take him off the nation’s forex.