Sign up for a daily newsletter defining what matters in business and markets

Stories

Trump administration delays Harriet Tubman $20 bill redesign

Harriet Tubman
Photo: Ann Ronan Pictures/Print Collector/Getty Images

Treasury Secretary Steven Mnuchin said at a House Financial Services Committee hearing on Wednesday that the addition of Harriet Tubman to the $20 bill has been delayed until 2028, CNBC reports.

Backdrop: In 2016, President Obama's former Treasury Secretary Jack Lew announced a new initiative to feature Tubman on the front side of the bill and President Andrew Jackson on the back. The bill would be released in 2020 to commemorate the 100th anniversary since the 19th Amendment, which gave women the right to vote, per the New York Times.

Mnuchin told the House Financial Services Committee that the administration is more focused on redesigning the currency to tackle counterfeiting issues, per CNBC. President Trump has previously said that the Obama-led initiative to put Tubman on the $20 bill is "pure political correctness," and suggested putting her on the $2 bill instead, per ABC.

Treasury Department