The choice to switch 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 doubtful because the 2016 marketing campaign based mostly on vital 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.
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 disclosing 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 the passage of the 19th modification giving ladies the suitable to vote.
“At the moment our forex doesn’t replicate the range of people that have contributed to our nice American historical past,” Pressley advised Mnuchin.
Mnuchin wouldn’t say whether or not he supported holding Tubman on the redesigned $20. He mentioned beneath the revised timeline, that call can be left to whoever is Treasury secretary in 2026.
Mnuchin mentioned the redesigned $20 invoice won’t come out till 2028 which he mentioned implies that a remaining design for that invoice won’t be introduced till 2026.
He mentioned the redesign of the payments was being executed 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.
“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 super success” and advised that Tubman may very well be positioned on a special invoice such because the $2 invoice.
Lew had arrived on the determination 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 gaggle that had grown with the recognition of the hit Broadway musical, felt it will be mistaken to take him off the nation’s forex.
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