Treasury Department

Obama appointees say Trump administration didn't delay $20 redesign

Treasury Secretary Steve Mnuchin. Photo: Mark Wilson/Getty Images
Treasury Secretary Steve Mnuchin. Photo: Mark Wilson/Getty Images

The Trump administration's reported delay of a $20 bill redesign featuring 19th-century abolitionist Harriet Tubman actually aligns with internal timelines produced during the Obama administration, three current or former government officials appointed by President Obama told the Washington Post.

Driving the news: Larry R. Felix, the director of the Bureau of Engraving and Printing from 2006 to 2015, said the probability of releasing a concept design in 2020 had always been low due to security and fraud risks, despite then-Treasury Secretary Jack Lew's desire for an unveiling that coincided with the 100th anniversary of the 19th Amendment.

Mnuchin pushes Congress to act on debt ceiling

In this image, Steven speaks.
Steven Mnuchin. Photo: Chip Somodevilla/Getty Images

Treasury Secretary Steven Mnuchin on Friday requested that Congress increase the debt ceiling before its summer recess, suggesting the Treasury could run out of cash sooner than expected.

Why it matters: Mnuchin now says the Treasury Department could run out of cash in early September, before Congress reconvenes — a projection that beats the increasingly frantic predictions of the Bipartisan Policy Center.