Mnuchin says Harriet Tubman $20 bill on track, no early release
The $20 bill is the most widely printed and is not scheduled to be released until 2030.
Treasury Secretary Jack Lew on the proposed changes to U.S. paper currency.
Despite recent protests nationwide for justice for African-Americans, Treasury Secretary Steven Mnuchin said on Thursday there is no plan to speed up the production of a new version of the $20 bill featuring American abolitionist Harriet Tubman.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
“I just want to clarify that we have not changed any of this and this is something in the distant future,” Mnuchin told reporters on a video call.
He noted that the $20 bill is the most widely printed currency and a new version is not scheduled to be released until 2030.
The current focus is to update sophisticated anti-counterfeit technology in American currency, which includes new printing equipment: to design security features and design the printing process.
The updated bill was proposed to feature more gender and racial diversity on U.S. currency and was intended to be unveiled in 2020 to celebrate the 100th anniversary of ratification of the 19th Amendment, which guarantees women the right to vote.
HARRIET TUBMAN $20 BILL REDESIGN POSTPONED
It was postponed to better develop anti-counterfeit methods for the bill, Mnuchin explained back in 2019.
Treasury Secretary Steven Mnuchin, member of the president's coronavirus task force, joins Chris Wallace on 'Fox News Sunday.'
Andrew Jackson, the country’s seventh president and a slave owner, is featured on the current design. Tubman, born into slavery on the Eastern Shore of Maryland, was active in the Underground Railroad and served as a nurse for the Union Army during the Civil War.
CLICK HERE TO READ MORE ON FOX BUSINESS
Placing Tubman on a federal reserve note was originally proposed by Obama-era Treasury Secretary Jack Lew after a 10-month review. Back in 2016, he discussed the process of FOX Business.
Treasury Secretary Jack Lew on the proposed changes to U.S. paper currency.
“The decision to put Harriet Tubman on the new $20 was driven by thousands of responses we received from Americans young and old,” Lew said at the time. “I have been particularly struck by the many comments and reactions from children for whom Harriet Tubman is not just a historical figure, but a role model for leadership and participation in our democracy.”
Then-presidential candidate Donald Trump said the decision was based on “pure political correctness” and suggested she be put on the $2 bill instead.
The Associated Press contributed to this report.