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Treasury Secretary Steve Mnuchin confirmed as much during a House Financial Services Committee hearing Wednesday,Complexreports, saying the updated bill is unlikely to roll out while the former reality star occupies the white house.
“The primary reason we’ve looked at redesigning the currency is for counterfeiting issues,” Mnuchin said. “Based upon this, the $20 bill will now not come out until 2028. The $10 bill and the $50 bill will come out with new features beforehand. So, the answer is: It is my responsibility now to focus on what is the issue of counterfeiting and the security features. The ultimate decision on the redesign will most likely be another secretary’s down the road.”
When Rep. Ayanna Pressley (D-MA) asked Mnuchin if he supports Tubman being on the $20 bill, he responded: “I’ve made no decision as it relates to that.”
The Tubman bill was announced in April 2016,an Obama administration initiative. Mnuchi says the redesign will be postponed until at least 2026, and the bill itself will not roll out until 2028. Until then, $20 bills with former President Andrew Jackson’s face will continue to circulate.
The redesign was scheduled to be unveiled in 2020 to commemorate the 100th anniversary of the 19th Amendment, which granted women the right to vote.
During the 2016 presidential race, Trump called the redesign “pure political correctness” and suggested Tubman be added to the $2 bill.
“Andrew Jackson had a great history, and I think it’s very rough when you take somebody off the bill,”Trump said at the time.
“I don’t like seeing it. Yes, I think it’s pure political correctness,”he said during a town hall eventon the TODAY show. “[Jackson has] been on the bill for many, many years, and, you know, really represented somebody that really was very important to this country. I would love to see another denomination, and that could take place. I think—I think it would be more appropriate.